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Selected transactions for Sunland Corporation during September 2018, its first month in business, are presented below: Sept 1 Issued common shares in exchange for $20,000 cash. 2 Paid $1,600 cash for rent for the month of September. 5 Purchased equipment for $10,800, paying $2,200 in cash and the balance on account 8 Earned $7,500 in revenue, receiving $1,100 cash and $6,400 on account of services provided. 12 Incurred $400 in advertising expense on account 20 Paid $2,800 for repairs and maintenance expenses. 25 Paid $5,000 cash on balance owed for equipment 27 Incurred and paid income taxes for the month amounting to $700. 30 Declared and paid a $600 cash dividend. Prepare foumal entries to record the above transactions (Credit account des are automatically indented when the amount is entered. Do not. presented in the problem.) Date Account Titles and Explanation Debit Credit Sept. 8