Creek Company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1Issue 10,000 shares of common stock in exchange for $22,000 in cash. 2. January 5Purchase land for $14,000. A note payable is signed for the full amount. 3. January 9Purchase storage container equipment for $7,000 cash. 4. January 12Hire three employees for $1,000 per month. 5. January 18Receive cash of $11,000 in rental fees for the current month. 6. January 23Purchase office supplies for $1,000 on account. 7. January 31Pay employees $3,000 for the first month's salaries.