Smart Touch Learning began operations on December 1 by receiving $24,200 cash and furniture of a fair value of $12,800 from James Smith. The business issued Smith shares of common stock in exchange for this contribution. Date Accounts Debit Credit Paid $1,900 cash for a four-month insurance policy. The policy begins December 1. Date Accounts Debit Credit Paid $530 cash for office supplies, December 4. Accounts Date Debit Credit Performed services for a customer and received $2,200 cash, December 12. Date Accounts Debit Credit