Transactions Jan 4 Gayland Jet, the major shareholder of the company, received $109,000 cash from an inheritance. 5 Jet deposited $51,000 cash in a new business bank account titled Mountain View Estates Ltd. The business issued common shares to Jet. 6 The business paid $1,000 cash for letterhead stationery for the new office. 7 The business purchased office furniture. The company paid cash of $8,000 and agreed to pay the account payable for the remainder, $9,000, within three months. 10 Jet sold ABC shares, which he owned for several years, receiving $76,000 cash from his stockbroker. 11 Jet deposited the $76,000 cash from the sale of the ABC shares in his personal bank account. 12 A representative of a large company telephoned Jet and told him of the company's intention to put a down payment of $15,000 on a lot. 18 Jet finished a real estate deal on behalf of a client and submitted his bill for services, $3,500. Jet expects to collect from this client within two weeks. 21 The business paid half its account payable for the furniture purchased on January 7. 25 The business paid office rent of $500. 31 The business declared and paid a cash dividend of $2,200.