Transaction 01. Byte of Accounting, Inc. Description of transaction June 1: Byte of Accounting, Inc. acquired $50,400 in cash from Lauryn and issued 2,400 shares of its common stock. June 1: Byte of Accounting, Inc. issued 2,550 shares of its common stock to after 02. $21,840 in cash and computer equipment with a fair market value of $31,710 were received. 03. 04. 05. 06. 07. 08. 09. 10. 11. 12. June 1: Byte of Accounting, Inc. issued 2,233 shares of its common stock after acquiring from Courtney $34,650 in cash, computer equipment with a fair market value of $11,760 and office equipment with a fair value of $483. June 2: A down payment of $29,000 in cash was made on additional computer equipment that was purchased for $145,000. A five-year note was executed by Byte for the balance. June 4: Additional office equipment costing $600 was purchased on credit from Discount Computer Corporation. June 8: Unsatisfactory office equipment costing $120 was retumed to Discount Computer for credit to be applied against the outstanding balance owed by Byte. June 10: Byte paid $22,250 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 $5,304 in cash. The effective date of the policy was June 16. revenue. June 16: A check in the amount of $7,750 was received for consulting reve June 16: Byte purchased a building and the land it is on for $149,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $24,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of $14,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. June 17: Cash of $8,000 was paid for rent for June, July, August and September. Put the total amount into the Prepaid Rent account. June 17: Received a bill of $450 from the local newspaper for advertising. 13. June 21: Accounts payable in the amount of $480 were paid. 14. June 21: A fax machine for the office was purchased for $675 cash. 15. June 21: Billed various miscellaneous local customers $4,100 for consulting services performed. 16. June 22: Paid salaries of $885 to equipment operators for the week ending June 18. 17. 18. June 22: Received a bill for $1,090 from Computer Parts and Repair Co. for repairs to the computer equipment. June 22: Paid the advertising bill that was received on June 17. 19. June 23: Purchased office supplies for $605 on credit. Record the purchase as an increase to the 20. June 23: Cash in the amount of $3,285 was received on billings. 21. June 28: Billed $5,280 to miscellaneous customers for services performed to June 25. 22. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co.