Transaction 01. 02. Description of transaction June 1: Byte of Accounting, Inc. issued 2,650 shares of its common stock to Jeremy after $31,320 in cash and computer equipment with a fair market value of $45,530 were received. June 1: Byte of Accounting, Inc. issued 2,165 shares of its common stock after acquiring from Courtney $44,950 in cash, computer equipment with a fair market value of $16,820 and office equipment with a fair value of $1,015. 03. June 1: Byte of Accounting, Inc. acquired $75,400 in cash from shares of its common stock. and issued 2,600 04. 05. 06. June 2: A down payment of $31,000 in cash was made on additional computer equipment that was purchased for $155,000. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $700 was purchased on credit from Discount Computer Corporation. June 8: Unsatisfactory office equipment costing $140 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. 08. 09. 10. 11. June 10: Byte paid $23,750 on the balance it owed on the June 2 purchase of computer equipment. June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $4,968 in cash. The effective date of the policy was June 16. June 16: Computer consultation revenue of $7,000 was received. June 16: Byte purchased a building and the land it is on for $113,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $18,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of $11,300 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. June 17: Cash of $9,600 was paid for rent for June, July, August and September. Put the total amount into the Prepaid Rent account. 12. June 17: Received a bill of $375 from the local newspaper for advertising. 13. June 21: Billed various miscellaneous local customers $4,300 for consulting services performed. 14. June 21: A fax machine for the office was purchased for $800 cash. 15. June 21: Accounts payable in the amount of $560 were paid.