The following transactions took place during the month of May 2022 in the books of School

Maintenance Inc. (A Sole Proprietor):

May 01 Started Business with $15,000 cash

May 02 Bought Land and Buildings costing $6,000. The business paid $2,500 and issued a note
Payable for the remainder
May 03 Purchased Plant and Equipment costing $4,500
May 04 Purchased Inventory costing $1,200 on credit
May 05 Received an 8% Long-Term Loan from USB of $15,000
May 06 Purchase a Motor Vehicle costing $5,800. Paid a deposit of $1,500 and issued a Note
Payable for the balance
May 07 Sold Inventory on credit for $1,600
May 08 Paid $1,500 to the Note Payable
May 09 Paid Rent for the warehouse space $600
May 10 Paid Salaries and Wages of $3,000
May 11 Purchased Inventory costing $940
May 12 Paid Note Payable $200
May 13 Paid Motor Vehicle Expenses $1,200
May 14 Sold Inventory for $2,010 cash
May 15 Bought Office Supplies costing $450
May 16 Paid Utilities Expense of $250
May 17 Purchased additional Inventory costing $2,000 on credit
May 18 Bought some Investment costing $300
May 19 Customers returned unused Inventory items costing $10
May 20 Paid $1,200 in Interest Expenses
May 21 Sold Inventory on credit for $3,700
May 22 Paid Utilities Expenses $140
May 23 Returned faulty Inventory to the suppliers costing $20
May 24 Paid Salaries and Wages $240
May 25 Paid Accounts Payable $1,500
May 26 Received part payment from Accounts Receivable $2,000
May 27 Owner took $2,000 out of the bank for their own use