Smart Touch Learning began operations on December 1 by receiving $25,100 cash and furniture of a fair value of $10,900 from James Miller. The business issued Miller shares of common stock in exchange for this contribution.

Date Accounts Debit Credit Dec. 1 Paid $1,400 cash for a four-month insurance policy. The policy begins December 1. Date Accounts Debit Credit Paid $410 cash for office supplies, December 4. Date Accounts Debit Credit Performed services for a customer and received $2,700 cash, December 12. Date Accounts Debit Credit