Company X was started by John Doe. These are the transactions that occurred during the first month, when the business started operating. 01.05: Invested 50 000$ cash in the business 01.05: Purchased 3000$ of supplies on account from Company Y 03.05: Paid office rent of 800$ cash for the month 06.05: Paid cash 550$ for one-year insurance policy 08.05: Received cash of 400$ for services provided to customers 15.05: Paid 45% of balance due to Company Y 20.05: Purchased equipment worth 5000$, 50% on account and paid the rest 50% cash 30.05: Paid Company Y in full 30.05: Paid salaries of 350$​