Jameson Corporation was organized on May 1. The following events occurred during the first month.
a. Received $74,000 cash and a building valued at $260,000 from the five investors who organized Jameson Corporation. Each Investor received 108 shares of $10 par value common stock.
b. Ordered store fixtures costing $15,000.
c. Borrowed $18,000 cash and signed a note due in two years.
d. Purchased $16,000 of equipment, paying $1,400 in cash and signing a six-month note for the balance.
e. Lent $1,700 to an employee who signed a note to repay the loan in three months.
f. Received and paid for the store fixtures ordered in (b).