3 Coaxial Eletronic System, Inc., completed the following transaction during August its first month of
operations:
Aug. 1 Received $19,500 and issued common stock.
2 Purchases $800 of office supplies on account.
4 Paid $14,000 cash for land to use as a building site.
6 Performed service for customers and received cash of $2,000.
9 Paid $100 on accounts payable
17 Performed service for IBM on account totaling $1,200
23 Collected $900 from IBM on account.
31 Paid the following expenses : salary, $1,000 ; rent, $500.