On January 1, 2024, new stockholders purchased 10,000 shares of company's $1 par value common stock for $280,000 cash. During January of 2024, the company paid its insurance company $60,000 cash for a 6-month comprehensive insurance policy. During January of 2024, the company paid its landlord $20,000 cash for store rental for the months of January, February, March, and April. During January of 2024, the company sold the land that it owned for $25,000 cash and a $125,000 6% note receivable. Interest on the 6% note receivable will be collected on June 30 and December 31. The $125,000 balance of the 6% note receivable will be collected on December 31, 2024. During January of 2024, the company sold $75,000 of the PP&E that it had on hand on December 31, 2023, for $80,000 cash. As of the date of sale, the PP&E had accumulated depreciation of $4,750.

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1. On January 1, 2024, new stockholders purchased 10,000 shares of company's $1 par value common stock for $280,000 cash 2. During January of 2024 , the company paid its insurance company $60,000 cash for a 6 -month comprehensive insurance policy. 3. During January of 2024 , the company paid its landlord $20,000 cash for store rental for the months of January, February, March, and April. 4. During January of 2024 , the company sold the land that it owned for $25,000 cash and a $125,0006% note receivable. Interest on the 6% note receivable will be collected on June 30 and December 31 . The $125,000 balance of the 6% note receivable will be collected on December 31,2024. During January of 2024 , the company sold $75,000 of the PP\&E that it had on hand on December 31,2023 , for $80,000 cash. As of the date of sale, the PP\&E had accumulated depreciation of $4,750