Based on the entries underneath below, write an explanation of the event that resulted in the transaction.

a. Cash 15,000

Common Shares 15,000

b. Automobile 20,000

Note Payable 15,000

Cash 5,000

c. Accounts Receivable 1,000

Service Revenue 1,000

d. Dividends 500

Cash 500

e. Accounts Payable 1,500

Cash 1,500

f. Salary Expense 1,875

Cash 1,875