PROBLEM $2\mathrm{.}43$: Simple Transactions

A$.$ Devon formed a consulting business, Devo Management Consulting in September. Operations begin in October. The

following events occurred during the month of September:

Devon invested $$100,000$ into the business.

She hired an assistant who will be paid $$4,000$ per month. The assistant begins work on Oct. $1.$

Signed a $5-$year office lease agreement at $$1,000$ per month. Paid first $3$ months in advance. Move$-$in date is $\frac{10}{1}.$

Devon loaned the business $$300,000-$ assume this was done last day of the month. The loan bears interest at $6\%.$

Purchased $$40,000$ in office equipment and $$60,000$ in computer equipment $-$ assume last day of the month. The office

equipment will be used for $10$ years. The computer equipment will be used for $4$ years.

The following events occurred during the month of October:

Performed consulting Job #$1$ and was paid $$25,000.$

Performed consulting Job #$2$ and billed customer for $$29,000.$ Bill is due in Nov.

Contracted for services in Job #$3$ at $18,000$ Receiving an advance payment of $$5,000.$ Work will begin in November.

Paid assistant $$5,000$ for the first half of the month's work.

Received utility bills $[$electric$,$ phone, gas, etc.$]$ for the month of October totaling $$1,250.$

$$2,500$ payments to the bank $-$$$1,000$ to cover October interest on the loan, with the remainder going to principal.