TRANSACTION ANALYSIS

Dallas Fire began operations on March 1, 2021, and completed these transactions during its first month:

a) Issued shares to shareholders in exchange for $50,000 cash.

b) Purchased office equipment for $2,500, paying $800 cash and agreeing to pay the rest in one month.

c) Rented office space and paid $1,200 for two months' rent in advance.

d) Purchased office supplies on credit for $50.

e) Completed services for a client on credit for $2,500.