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Jan. 1
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Cody, Alberto, and Patricia registered to State of Texas for the issuance 20,000 common stocks with par value @10 per share as a start-up of office supplies business and a business bank account was established for CAP operations.
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Jan. 1
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Purchased a warehouse $315,000 paying cash $50,000 and on account $265,000.
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Jan. 1
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Paid annual insurance premium $3,600 for the warehouse.
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Jan. 1
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Purchased supplies 3,000 units @$20 on account with terms, FOB shipping point, 2/10, n/30 from Salinas Co.
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Jan. 2
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Paid freight of $500 from purchase of supplies.
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Jan. 5
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Sold supplies 1,000 units @$40 in cash and 1,000 units @$45 on account with terms, 2/10, n/30 to Underwood Co.
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Jan. 8
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Returned defeated supplies 400 units to Salinas Co.
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Jan. 10
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Paid Salinas Co for the purchase of Jan. 1
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Jan. 15
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Received cash payment from Underwood Co
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Jan. 28
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Purchased supplies 2,000 units @$25 on account with terms, FOB destination point, 2/10, n/30 from Salina Co; paid freight of $350 from purchase of supplies
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Jan. 31
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Paid $15,000 cash and issued 5 nonnegotiable notes, @$50,000, 8%, to the real estate for the payment of warehouse. The nonnegotiable notes will be paid @50,000 annually in next 5 years.
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Jan. 31
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Accrual employee salary $25,000
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Jan. 31
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Accrual electricity bill $1,200, Internet & phone bill $800
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Feb. 1
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Purchased office equipment $12,000 on account.
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Feb. 5
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Sold supplies 500 units @$38 to Jaggi Co in cash
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Feb. 5
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Paid employee wages, electricity bill, internet & phone bill
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Feb. 8
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Paid Salina Co. for the purchase of Jan. 28.
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Feb. 15
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Paid $3,000 annual rent for a parking lot.
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Feb. 18
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Sold supplies 800 units @$45 on account with terms, FOB shipping point, 2/10, n/30 to Underwood Co.
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Feb. 28
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Received cash payment from Underwood at discount price @42 due to defeated quality
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Feb. 28
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Accrual employee salary $23,000, electricity bill $1,500, and internet & phone bill $750
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Mar.1
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Sold supplies 1,000 units @$42 on account with terms, FOB shipping point, 2/10, n/30 to Julio Ltd.
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Mar. 1
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Purchased a truck for $25,000, paying $5,000 cash and giving a note payable for the reminder
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Mar. 3
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Purchased supplies 2,000 @$18 on account with terms, FOB destination point, 2/10, n/30 from Salina Co; paid freight of $400 from purchase of supplies
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Mar. 5
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Paid employee salary, electricity bill, internet &phone bills
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Mar. 10
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Received $20,580 from Julio Ltd for a half of payment.
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Mar. 13
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Paid Salina Co. for the Purchase of Mar. 3 with new negotiated price @$15
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Mar. 18
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Sold supplies 1,000 units @45 with term, n/30, to Jaggi Co.
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Mar. 25
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Received payment $9,000 from Julio Co.
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Mar. 28
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Sold supplies 500 units @42 with terms, n/30, to Underwood Co.
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Mar. 29
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Purchased supplies 3,000 units@$24 from Alvarez Co., FOB shipping point, with term n/30
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Mar. 30
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Sold supplies 1,200 units @48 to Carla Co. with terms 2/10, n/30
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Mar. 31
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Accrual employee salary $28,000, electricity bill$1,700, and internet &phone bill $800
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Mar. 31
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Paid cash dividend $5,000 to shareholders
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