The following were his transactions for his first month of operations:

June 1 ***Mr. Palmer opened a bank account at the National Commercial Bank with $100,000.

June 2 ***He sourced a loan from the St. Mary Credit Union for $300,000. The funds were deposited to his NCB bank account.

June 3 ***He paid ORC Electronics $25,000 with a cheque to set up his point of sale machine.

June 3 He paid Mr. Carl Lewis $15,000 with a cheque to set up fixtures and fitting (shelves) to

display his produce.

June 3 ***He purchased an electronic scale from Advanced Digital Scales Ltd for $10,000 on credit with a commitment to pay on July 1, 2020.