egan oper May 1. The following transactions occurred during May 1 Stockholders invested $50,400 in the business in exchange for common stock. 2 Purchased equipment on account, $4,600. 3 Returned $600 of equipment that was not satisfactory. The return reduced the amount owed to the supplier. 4 Purchased supplies on account, $1,260. 5 Purchased a truck for $10,900. Walsh paid $5,900 cash and gave a note payable for the balance. 6 Paid rent for May, $1,275. 7 Paid fuel cost for truck, $460. 8 Billed customers for services rendered, $14,100. 9 Paid $3,400 on account for the equipment purchased on May 2. 10 Paid utilities for May. $610. 11 Received invoice for May advertising, to be paid in June, $680. 12 Paid employees' wages, $3,750. 13 Collected $9,000 on accounts receivable. 14 Walsh paid stockholders a dividend of $1,900 cash. 15 Paid interest for May on an outstanding note payable, $120.