During August 2013, DB Inc. completed several financial transactions: 1) They purchased equipment for $50,000 with a 6 month, 8% note payable. 2) They issued $15,000 shares of $2 par stock at $8 per share. 3) They received an invoice for $450 in telephone services to be paid the next month. 4) They sold $320,000 in product sales and accrued 5% for future warranty costs.

1. DEVRY ACCT 216 Week 6 Homework
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During August 2013, DB Inc. completed the following transactions:
a.8/1/13 – Purchased a new piece of equipment for $50,000 signing a
6 month, 8% note payable.
b.8/10/13 – Issued 15,000 shares of $2.00 par stock at $8.00 per
share.
c.8/15/13 – Received an invoice for their telephones for $450.00 that
will be paid next month.
d.8/16/13 – Sold $320,000 in product sales and accrued 5% for
warranty liability.
e.8/30/13 – Received a summons that the company was being sued
for terminating the office manager last month. The attorneys have
advised the company that they will be liable to the employee for
back pay of $3,800.

2. f.8/31/13 – Purchased 200 shares of Treasury stock at $6.00 per
share
g.8/31/13 – Accrued interest on the note signed 8/1/13.