Current Attempt in Progress On April 1, Cullumber Travel Agency, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $24,500 cash. 2. Obtained a bank loan for $7,100 by issuing a note payable. 3. Paid $11,200 cash to buy equipment. 4. Paid $1,200 cash for April office rent. 5. Paid $1,500 for supplies. 6. Purchased $610 of advertising in the Daily Herald, on account. 7. Performed services for $18,400: cash of $2,040 was received from customers, and the balance of $16,360 was billed to customers on account. 8. Paid $410 cash dividend to stockholders.