Exercise 2-9 On April 1, Adventures Travel Agency, Inc. began operations. The following transactions were completed during the month Stockholders invested $24,000 in the business in exchange for common stock 1. Obtained a bank loan for $7,000 by issuing a note payable. 2. Paid $11,000 cash to buy equipment. 3. Paid $1,200 cash for April office rent. 4. Paid $1,450 for supplies Purchased $600 of advertising in the Daily Herald, on account. 5. 6. Performed services for $18,000: cash of $2,000 was received from customers, and the balance of $16,000 was billed to customers on account. 7. 8. Paid $400 dividend to stockholders. Paid the utility bill for the month, $2,000. 9 Paid Daily Herald the amount due in transaction (6) Paid $40 of interest on the bank loan obtained in transaction (2) 10 11 Paid employees' salaries and wages, $6,400. 12. Received $12,000 cash from customers billed in transaction (7). 13. NO. ACoun maCS ana LAPranauIUm 1. 2. 3. 4. 5. 6 7. 8 9 10. 11