The following transactions of Pharoach Wholesale Inc. occured in the month of september

Date: Sept.1 Issued 200 common shares for $20,000. 4 To raise additional capital, Pharoah borrowed $10,600 from the bank on a long-term loan. 7 Purchased equipment for $4,800. 9 Purchased inventory costing $2,700 on account. 15 Sold units from inventory to customers, on account, for $4,200. 19 Purchased additional inventory, on credit, at a cost of $2,200 to replace the units sold. 20 Made payments of $2,900 on its accounts payable. 21 Purchased a used delivery van for $15,900. 28 At monthend, counted inventory and determined that the cost of the units sold on September 15 totalled $1,900. 28 Paid employee wages of $700 for the month. 29 Received an invoice from the local newspaper for $400 for advertising run during the month of September. The involice is due on October 15. 30 Paidutilies costs of $160 for the month. 30 During the month, Pharoahreceived \$2,330 from customers as payments on their accounts. Date: Sept.1 Issued 200 common shares for $20,000. 4 To raise additional capital, Pharoah borrowed $10,600 from the bank on a long-term loan. 7 Purchased equipment for $4,800. 9 Purchased inventory costing $2,700 on account. 15 Sold units from inventory to customers, on account, for $4,200. 19 Purchased additional inventory, on credit, at a cost of $2,200 to replace the units sold. 20 Made payments of $2,900 on its accounts payable. 21 Purchased a used delivery van for $15,900. 28 At monthend, counted inventory and determined that the cost of the units sold on September 15 totalled $1,900. 28 Paid employee wages of $700 for the month. 29 Received an invoice from the local newspaper for $400 for advertising run during the month of September. The involice is due on October 15. 30 Paidutilies costs of $160 for the month. 30 During the month, Pharoahreceived \$2,330 from customers as payments on their accounts