Transaction 1: On January 1, 2011, Carol Finlay formed a new interior-design business by

investing $10,000 of her personal funds into the business. Thecash was

deposited into a bank account opened under the name of Finlay Interiors.

The following transactions took place from January 1 to January 31:

Transaction 2: On January 1, Finlay Interiors used $2,500 of its cash to purchase supplies

Transaction 3: On January 1, Finlay Interiors purchasedadditional supplies at a cost of

$1,100 and furniture at a cost of $6,000, ON CREDIT from

Can Tech Supply Company. Finlay Interiors will pay for the supplies in 30 days,

but has arranged to pay for the furniture by signing a note payable.

Transaction 4: On January 10, Finlay Interiors provided consulting services to a dentist

and immediately collected $2,200 cash

Transaction 5: On January 10, Finlay Interiors paid $1,000 rent for the month of January.

Transaction 6: On January 14, Finlay Interiors paid $700 salaryto the business's only employee.

Transaction 7: On January 14, a customer and Carol Finlay sign a $65,000 contract that requires

Finlay Interiors to do the interior design for an office building currently under

construction. Finlay Interiors is expected to perform the services during February

and March.

Transaction 8: On January 15, Finlay Interiors provided consulting services and rented

furniture to a customer and billed the customer $1,600 forth consulting

services and $300 for the rental of the office furniture.

Transaction 9: On January 25, 10 days after billing the customer in transaction =8, received

full payment from that customer.

Transaction 10: On January 25, Finley Interiorspaid $900 of the amount owingto Can Tech

Supply Company

Transactionl1: Carol Finlay withdrew $600 cash from the business for her PERSONAL use.