dec 1: mass delivery service began operation by receiving

Mass Delivery Service began operations by receiving $13,000 cash and a truck with a fair value of $15,000 from Raleigh Mass. The business issued Mass shares of common stock in exchange for this contribution. Paid $1,350 cash for a nine-month insurance policy. The policy begins December 1. Paid $600 cash for office supplies. Performed delivery services for a customer and received S2,200 cash. Completed a large delivery job, billed the customer $3,400 and received a promise to collect the $3,400 within one week. Paid employee salary, $1,500. Received $13,000 cash for performing delivery services. Collected $900 in advance for delivery service to be performed later. Collected $3,400 cash from customer on account. Purchased fuel for the truck, paying $400 with on account (Credit Accounts Payable) Performed delivery services on account, $1,900. Paid office rent, $1,200, for the month of December. Paid $400 on account. Cash dividends of $2,500 were paid to stockholders