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During 2022, its first year of operations as a delivery service, Cheyenne Corp. entered into the following transactions. 1. Issued shares of common stock
During 2022, its first year of operations as a delivery service, Cheyenne Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $144,000 in cash. 2. Borrowed $45,000 by issuing bonds. 3. Purchased delivery trucks for $52,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $6,300 on account. 6. Paid rent of $5,800. 7. Performed services on account for $11,900. 8. Paid salaries of $27,400. 9. Paid a dividend of $10,700 to shareholders.
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