Ye Olde Book Store opened its doors for business on May 1. During May, the following transactions took place: May 1 Linda Berrill began the business by depositing $42,000 in the new company's bank account. 3 Issued check no. C001 to Remax Rentals for one month's rent, S1,000. 4 Received a shipment of books from Chassman Books, Inc., invoice dated May 3, terms 5/10,n/60, FOB shipping point, $15,680