Please make journal entries for these transactions and write out calculations if there are any:

Transaction 1 Description of transaction June 1: Jeremy made an investment in Byte of Accounting, Inc., by purchasing 2.640 shares of its common stock paying $32,410.80 in cash and by contributing computer equipment with a fair market value of $46,815.60. The par value of the common stock was $0.01 per share. June 1: Courtney made an investment in Byte of Accounting, Inc., by purchasing 532 shares of its common stock by contributing computer equipment with a fair market value of $15,005.00 and office equipment with a fair value of S960.32. The par value of the common stock was $0.01 per share. June 1: X made an investment in Byte of Accounting, Inc. by purchasing 3,950 shares of its common stock for $118,539.50 cash. The par value of the common stock was $0.01 per share. June 2: Check # 5002 was used to make a down payment of $35,000.00 on additional computer equipment that was purchased from Royce Computers, invoice number 76542. The full price of the computer was $175,000.00. A five-year note was executed by Byte for the balance. 2 3 4 5 6 7 8 9 10 June 4: Additional office equipment costing $700.00 was purchased on credit from Discount Computer Corporation. The invoice number was 98432. June 8: Unsatisfactory office equipment costing S140.00 from invoice number 98432 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. June 10: Check # 5003 was used to make a $26,750.00 payment reducing the principal owed on the June 2 purchase of computer equipment from Royce Computers. June 10: Purchased office supplies for $1,850.00 from Staples on account. The invoice number was 61298. Included in the purchase was 10 units of Super RoutePro at a cost of $55.00 each. June 14: Check # 5004 was used to purchase a one-year insurance policy covering its computer equipment for S5,808.00 from Seth's Insurance. The effective date of the policy was June 16 and the invoice number was 2387. June 16: Checks in the amount of $6,150.00 was received for services performed for cash customers. June 16: Byte purchased a building and the land it is on for $137,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $22,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $13,700.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance. June 17: Check # 5006 for $6,800.00 was paid for rent of the office space for June, July, August and September. June 17: Received invoice number 26354 in the amount of $300.00 from the local newspaper for advertising. June 21: Billed various miscellaneous local customers $4,200.00 for consulting services performed. June 21: Check # 5007 was used to purchase a fax machine for the office from Office Machines Express for $675.00. The invoice number was 975-328. 11 12 13 14 15 Transaction Description of transaction 16 June 21: Accounts payable in the amount of $560.00 were paid with Check # 5008. 17 June 22: Check # 5009 was used to pay the advertising bill that was received on June 17. June 22: Received a bill for $1,315.00 from Computer Parts and Repair Co. for repairs to the computer equipment. The invoice number was 43254. 18 19 20 June 22: Check # 5010 was used to pay salaries of $1,010.00 to equipment operators for the week ending June 18. Ignore payroll taxes. June 23: Cash in the amount of $3,365.00 was received on billings. June 23: Purchased office supplies for S925.00 from Staples on account. The invoice number was 65498. Included in the purchase was 10 units of Super RoutePro at a cost of $60.00 each. 21 22 June 28: Billed $6,225.00 to miscellaneous customers for services performed to June 25. 23 June 29: Cash in the amount of $5,899.00 was received for billings. 24 June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co with Check # 5011. 25 June 29: Check # 5012 was used to pay salaries of $1,010.00 to equipment operators for the week ending June 25. Ignore payroll taxes. 26 June 30: Received a bill for the amount of $890.00 from O&G Oil and Gas Co. The invoice number was 784537. 27 June 30: Check # 5013 was used to pay for a cash dividend of S0.24 per share to Jeremy, a shareholder of Byte. 28 June 30: Check #5014 was used to pay for a cash dividend of $0.24 per share to X a shareholder of Byte. 29 June 30: Check # 5015 was used to pay for a cash dividend of S0.24 per share to Courtney, a shareholder of Byte. Adjusting Entries - Round to two decimal places. The rent payment made on June 17 was for June, July, August and September. Expense the amount associated with one month's rent. 30