July 3 the company purchased $4,300 of merchandise on credit from advanced parts, terms n/60. 6 the company sold $1,200 of merchandise (cost is $1,050) for cash to o'reilly. 7 the owner, a. smith, contributed equipment worth $7,400 to the company. 9 the company sold $1,350 of used equipment (non inventory) on credit to junk yard, terms n/30. 13 the company sold $5,600 of merchandise (cost is $5,200) on credit to j. bell, terms n/30. 15 the company granted j. bell an allowance (price reduction) of $740 for merchandise purchased on july 13. smith auto credited accounts receivable for that amount. 22 the company purchased a building for $44,000 by issuing a note payable. 26 the company paid salaries of $5,600 with cash.