ACCT 201 Case Fall 2022 Page 4 Question 4. In August 2022, Supreme Athletics was established in Lafayette, LA to sell top of the line athletic equipment to individual and commercial customers across the US Luke Scott and Makenzie Les are the major stockholders in the corporation August 3 28% 888 Stockholders (Scott & Lee) invested $120,000 cash in the business Purchased a computer system for use in the business for $12,000, paid $5.000 down and signed a 1 year note for the balance Hired Silas Johnson as a salesperson. Purchased supplies for $2.600 on account Paid $3,000 to advertise the opening of their business Sold $16.000 of athletic equipment on account. The cost of the equipment sold was $9.500. 13 17 Paid $8,000 for a one-year insurance policy 20 26 27 28 29 30 Declared and paid a $1,000 cash dividend Paid $6,000 rent for the month Collected $14,000 from customers billed on August 26 Paid receptionist $1.500 for August Date Account Titles Ref Debit Credit