Tony and Suzie graduate from college in May 2021 and began developing their new business.They began by offering clinics for basic outdoor activities such as Mountain biking or Kayaking.

On July 1,2021,Tony and Suzie organize their new company as a corporation ,Great Adventure Inc. The articles of incorporation states that the corproation,Great Adventures Inc. The articles

of incorporation state that the corporation will sell 39,000 shares of common stock for $1 each. Each share of stock represents a unit of ownership. Tony and Suzie will act as a co-presidents

of the company. The following transactions occur from July1 through December 31st.

July 1 : Sell $19,500 of common stock to Suzie.

July 1: Sell $19,500 of common stock to Tony.