a.

Issued stock for $100,000; 20,000 shares with a $1 par value.

b.

Purchased equipment with a useful life of ten years for $12,000.

c.

Purchased a building with a useful life of 20 years for $24,000.

d.

Bought office supplies for $2,400. Supplies are expected to last one year.

e.

Paid salaries of $10,000.

f.

Borrowed $15,000 from bank on last day of the month. 12% interest rate payable in 90 days.

g.

Sold services for $20,000 on account.

h.

Collected $15,000 of receivables.

i.

Recorded expense accruals of $4,000 at end of month.