Sharon Repair Inc. was started on May 1. A summary of May transactions is presented below.
1. Stockholders invested $11,800 cash in the business in exchange for common stock.
2. Purchased equipment for $5,900 cash.
3. Paid $472 cash for May office rent.
4. Paid $354 cash for supplies.
5. Incurred $295 of advertising costs in the Beacon News on account.
6. Performed repair services for customer for $5,546 cash.
7. Paid a $826 cash dividend. 8. Paid part-time employee salaries $1,180.
9. Paid utility bills $169.
10. Performed repair services worth $1,298 on account.
11. Collected cash of $134 for services billed in transaction (10).