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At the beginning of March, Cullumber Software Company had Cash of $11,758, Accounts Receivable of $17,664, Accounts Payable of $4,179, and G. Cullumber, Capital of

At the beginning of March, Cullumber Software Company had Cash of $11,758, Accounts Receivable of $17,664, Accounts Payable of $4,179, and G. Cullumber, Capital of $25,243. During the month of March, the following transactions occurred.

1. Purchased equipment for $23,772 from Digital Equipment. Paid $4,172 cash and signed a note payable for the balance.
2. Received $12,209 from customers for contracts billed in February.
3. Paid $2,916 for March rent of office space.
4. Paid $2,301 of the amounts owing to suppliers at the beginning of March.
5. Provided software services to Kwon Construction Company for $6,592 cash.
6. Paid BC Hydro $1,004 for energy used in March.
7. G. Cullumber withdrew $5,283 cash from the business.
8. Paid Digital Equipment $2,058 on account of the note payable issued for the equipment purchased in transaction 1. Of this, $98 was for interest expense.
9. Hired an employee to start working in April.
10. Incurred advertising expense on account for March, $1,416.

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