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1. On April 1, Sunland Travel Agency Inc. was established. These transactions were completed during the mor Stockholders invested $28,400 cash in the company

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1. On April 1, Sunland Travel Agency Inc. was established. These transactions were completed during the mor Stockholders invested $28,400 cash in the company in exchange for common stock. 2. Paid $530 cash for April office rent. 3. Purchased office equipment for $3,260 cash. 4. Purchased $200 of advertising in the Chicago Tribune, on account. 5. 6. Paid $390 cash for office supplies. Performed services worth $12,700. Cash of $4,000 is received from customers, and the balance of customers on account. 7. Paid $310 cash dividend. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees' salaries $1,250. 10. Received $8,700 in cash from customers billed previously in transaction (6). (1) (2) (3) (4) (5) (6) (7) (8) (9) tA Assets Cash Accounts Receivable + Supplies 28400 3260 (10) 5 i +

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