Jun. 1 Rick Mitchell, the owner, invested $140,000 cash, office equipment with a value of $15,000, and $80,000 of drafti

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Jun 1 Rick Mitchell The Owner Invested 140 000 Cash Office Equipment With A Value Of 15 000 And 80 000 Of Drafti 1 (205.4 KiB) Viewed 41 times

Jun. 1 Rick Mitchell, the owner, invested $140,000 cash, office equipment with a value of $15,000, and $80,000 of drafting equipment to launch the company. Jun. 2 The company purchased land worth $59,000 for an office by paying $20,300 cash and signing a long-term note payable for $38,700. 3 The company Jun. Jun. purchased a portable building with $45,000 cash and moved it onto the land acquired on June 2. 4 The company paid $9,000 cash for the premium on an 18-month insurance policy. Jun. 5 The company completed and delivered a set of plans for a client and collected $14,200 cash. Jun. 6 The company purchased $32,000 of additional drafting equipment by paying $19,500 cash and signing a long-term note payable for $12,500. Jun. 7 The company completed $30,000 of engineering services for a client. This amount is to be received in 30 days. 8 The company purchased $2,150 of additional office equipment on credit. Jun. Jun. 9 The company completed engineering services for $26,000 on credit. Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $2,300 rent cost must be paid within 30 days. Jun. 12 The company collected $15,000 cash in partial payment from the client billed on June 9. Jun. 14 The company paid $1,600 cash for wages to a drafting assistant. Jun. 17 The company paid $2,150 cash to settle the account payable created in on June 8. Jun. 20 The company paid $1,425 cash for minor maintenance of its drafting equipment. Jun. 23 Rick Mitchell withdrew $9,880 cash from the company for personal use. Jun. 28 The company paid $1,600 cash for wages to a drafting assistant. Jun. 29 The company paid $3,300 cash for advertisements on the web during June.