During its first month of operation, the True Consulting Corporation, which specializes in management consulting

July 1 Issued 15,000 shares of the company's common stock in exchange for $15,000

July 3 Purchased a truck for $8,000. A down payment of $3,000 was made, with the balance on account

July 5 Paid $1,200 to cover rent from July 1 through September 30.

July 7 Purchased $2,000 of supplies on account

July 10 Billed customers for consulting services performed, $3,700

July 14 Paid $500 toward the amount owed for the supplies purchased on July 7

July 15 Paid $1750 in cash for employee wages

July 19 Collected $1600 in cash from customers that were billed on July 10

July 21 Received $4,200 cash from customers for services performed

July 31 Paid $350 in cash for truck repairs

July 31 Declared and Paid $700 in cash dividends

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