Date March 1 March 1 March 1 March 3 March 8 March 10 March 11 March 18 March 20 March 31 March 31 March 31 March Transactions Transaction Description Began business by making a deposit in a company bank account of $22500, in exchange for 2,250 shares of $10 par value common stock. Paid the premium on a 1-year insurance policy, $2,160. Paid the current month's rent expense, $1,800. Purchased repair equipment from Fred Company, $5,800. Paid $2200 down and the balance was placed on account. The rest will be paid in equal payments over the next 12 months. The first payment is due 4/1. Note: Use Accounts Payable for the Balance Due. Purchased repair supplies from Gary Company on credit, $650. Paid telephone bill for March, $400. Cash flight management system (FMS) repair revenue for the first third of March, $2000. Made payment to Gary Company, $400. Cash FMS repair revenue for the second third of March, $2,450. Cash FMS repair revenue for the last third of March, $1,500. Paid the current month's electic bill, $300. Declared and paid cash dividend of $1,000.