Problenis PROBLEM 3.1 Recording Transactions .0 Jouma LO 3, 4, 5, 12 Louis Dixon, a dentist, resigned from his position with a large dental group in order to begin his own pediatric dental practice. The practice was organized as a sole proprietorship, called Louis Dixon Pediatric Dentistry. The business transactions during September while the new venture was being organized are listed below. Sept 1 Dixon opened a bank account in the name of the business by depositing $50,000 cash, which he had saved over a number of years. Sept. 10 Purchased a small office building located on a large lot for a total price of $182.400, of which $106,000 was applicable to the land and $76,400 to the building. A cash payment of $36.500 was made and a note payable was issued for the balance of the purchase price