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Transaction (3): Soft byte purchases $1,600 of computer paper and other supplies that are expected to last several months from the Alpha Supply Company

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Transaction (3): Soft byte purchases $1,600 of computer paper and other supplies that are expected to last several months from the Alpha Supply Company. Alpha Supply will allow Soft byte to pay this bill next month (in October). Th is transaction is referred to as a purchase on account, or a credit purchase 4. Transaction (4): Soft byte receives $1,200 cash from customers for programming services it has provided. This transaction is Soft byte's main revenue-producing activity. Remember that revenue increases profit, which then increases owner's equity.