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PART C (25 marks, 40 minutes) Melanie started a new incorporated business on January 1, 2016. The business operates under the name Melanie Inc. The

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PART C (25 marks, 40 minutes) Melanie started a new incorporated business on January 1, 2016. The business operates under the name Melanie Inc. The following transactions took place over the month of January: ,lanm 2 a- issued common shares (share capital) of the company to Melanie in return for her payment of $ 45,000 cash. b- bought a delivery truck with a total cost of $ 20,000. Melanie paid for the truck by making a cash down payment of $ 4,000 and signed a ve year note payable for the balance (the note's interest rate is 12% per annum and interest is paid monthly starting February I). c- purchased ofce supplies at a total cost of $ 2,120, paying $ 120 in cash and agreeing to pay the balance on February 1 d- paid the insurance company $ 1,200 for ofce insurance for six months January to June

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