Perfect Printers Inc. completed the following transactions during October 2020, its first month of operations:

{Requirement}
1. Record the transactions in the journal of Perfect Printers Inc. Key transactions by date, and include an explanation for each entry, as illustrated in the chapter.

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Oct. 1 Received $25,000, and issued common shares. 2 4 6 17 Purchased $800 of office supplies on account. Paid $20,000 cash for land to use as a building site. Performed service for customers, and received cash of $5,000. Paid $100 on accounts payable. Performed service for Waterloo School Board on account totalling $1,500. 23 Collected $1,000 from Waterloo School Board on account. 31 Paid the following expenses: salary, $1,000; rent, $500. .