Cash Accounts Receivable Accounts Payable Common Stock Selected transactions for Sandhill Corporation during its first month in business are presented below. Sept.1 Issued common stock in exchange for $21,300 cash received from investors. 5 Purchased equipment for $8,520, paying $3,080 in cash and the balance on account. 8 Performed services on account for $18,900. 14 Paid salaries of $2,100. 25 Paid $3,440 cash on balance owed for equipment. 30 Paid $750 cash dividend