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. 5. Purchased $600 of advertising in the Daily Herald, on account. 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. Paid $400 dividend to stockholders. 8. Paid the utility bill for the month, $2,000. 9. Paid Daily Herald the amount due in transaction (6). 10. Paid $40 of interest on the bank loan obtained in transaction (2). 11. Paid employees' salaries and wages, $6,400. 12. Received $12,000 cash from customers billed in transaction (7). 13. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. Exercise 2-14 Selected transactions for Alvarado Company during its first month in business are presented below. Stockholders invested $10,000 cash in the business in exchange for common stock. Sept. 1 Purchased equipment for $12,000 paying $4,000 in cash and the balance on account. Paid $2,400 cash on balance owed for equipment. 25 Declared and paid a $500 cash dividend. 30 Alvarado's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Common Stock, and No. 332 Dividends. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Credit Date Debit