Verity Siding Company recorded various transactions during its first month of operations in May. These transactions included S. Verity investing $90,000 cash in exchange for common stock, purchasing $25,000 in office equipment by paying $10,000 cash and signing a $15,000 note, renting office space and paying $3,000 rent, completing work and collecting payment from customers, purchasing materials and paying suppliers, purchasing a copy machine on credit, paying employee salaries, and paying various expenses.