DO IT$!3-3$ Boyd Docker engaged in the following activities in establishing his photography studio, SnapShot!:

Opened a bank account in the name of SnapShot! and deposited $$8,000$ of his own money into this account in exchange for common stock.

Purchased photography supplies at a total cost of $$950.$ The business paid $$400$ in cash, and the balance is on account.

Obtained estimates on the cost of photography equipment from three different manufacturers.