Jan. 20 Michael McBryan started the business by depositing $80,000 received from the sale of capital stock in a company bank account
Jan. 21 Purchased land for $52,000, paying cash.
Jan. 22 Purchased a building for $36,000, paying $6,000 in cash and issuing a note payable for the remaining $30,000.
Jan. 23 Purchased tools and equipment on account, $13,800.
Jan. 24 Sold some of the tools at a price equal to their cost, $1,800, collectible within 45 days.
Jan. 26 Received $600 in partial collection of the account receivable from the sale of tools.
Jan. 27 Paid $6,800 in partial payment of an account payable.
Jan. 31 Received $2,200 of sales revenue in cash.
Jan. 31 Paid $1,400 of operating expenses in cash—$200 for utilities and $1,200 for wages.
