The following financial statements are available for Oak Corporation for its first month of operations:
Oak Corporation
Income Statement
For the Month Ended July 31, 2012
Service revenue.....................................................................$75,400
Expenses:
Rent..........................................$ 6,000
Salaries and wages..........................24,600
Utilities.......................................12,700......................43,300
Net income........................................................................ $32,100

Required
Describe as many transactions as you can that were entered into by Oak Corporation during the first month of business.

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Oak Corporation Balance Sheet July 31, 2012 Assets Liabilities and Stockholders' Equity Cash Accounts receivable Equipment Furniture Land S 13,700 Wages payable 25,700 Notes payable 32,000 Unearned service revenue 14,700 Capital stock 24000 Retained earnings S 6,000 50,000 4,500 30,000 19,600 Total liabilities and Total assets stockholders' equity