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A down payment of $32,000 in cash was made on additional computer equipment that was purchased for $160,000. A five-year note was executed by Byte for the balance. 05. June 4: Additional office equipment costing $700 was purchased on credit from Discount Computer Corporation. 06. June 8: Unsatisfactory office equipment costing $140 was returned to Discount Computer for credit to be applied against the outstanding balance owed by Byte. 07. June 10: Byte paid $24,500 on the balance it owed on the June 2 purchase of computer equipment. 08. June 14: A one-year insurance policy covering its computer equipment was purchased by Byte for $4,968 in cash. The effective date of the policy was June 16. 09. June 16: Computer consultation revenue of $8,250 was received. 10. June 16: Byte purchased a building and the land it is on for $119,000, to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $19,000. The balance of the cost is to be allocated to the building. Byte made a cash down payment of $11,900 and executed a mortgage for the balance. The mortgage is payable in eight equal annual installments beginning July 1. 11. June 17: Cash of $4,800 was paid for rent for June, July and August. Put the total amount into the Prepaid Rent account. 12. June 17: Received a bill of $350 from the local newspaper for advertising. 13. June 21: Billed various miscellaneous local customers $4,400 for consulting services performed. 14. June 21: A fax machine for the office was purchased for $825 cash. 15. June 21: Accounts payable in the amount of $560 were paid. 16. June 22: Paid the advertising bill that was received on June 17. 17. June 22: Received a bill for $1,140 from Computer Parts and Repair Co. for repairs to the computer equipment. 18. June 22: Paid salaries of $1,010 to equipment operators for the week ending June 18. 19. June 23: Cash in the amount of $3,525 was received on billings. 20. June 23: Purchased office supplies for $555 on credit. Record the purchase as an increase to the assets. 21. June 28: Billed $6,225 to miscellaneous customers for services performed to June 25. 22. June 29: Cash in the amount of $5,899 was received for billings. 23. June 29: Paid the bill received on June 22, from Computer Parts and Repairs Co. 24. June 29: Paid salaries of $1,010 to equipment operators for the week ending June 25. 25. June 30: Received a bill for the amount of $1,015 from O & G Oil and Gas Co. 26. June 30: Paid a cash dividend of $0.24 per share to the three shareholders of Byte. [IMPORTANT NOTE: The number of shares of capital stock outstanding can be determined from the first three transactions.
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