Exercise 3-14 (Part Level Submission) Selected transactions for Indigo Corporation during its first month in business are presented below. Sept. 1 5 8 Issued common stock in exchange for $18,300 cash received from investors. Purchased equipment for $8,540, paying $2,870 in cash and the balance on account. Performed services on account for $18,000. Paid salaries of $1,200. Paid $3,030 cash on balance owed for equipment. Paid $830 cash dividend. 14 25 30 Es Date Account Tides and Explanation Debit Credit Sept. 1 Cash 18300 Common Stock 18300 Sept. 5 x Cash -2870 Equipment 8540 Accounts Payable 5670 Sept. 8 Accounts Receivable 18000 Service Revenue 18000 Sept. 14 Cash - 1200 Advertising Expense -1200 X Sept. 25 Cash -3030 x Accounts Payable -3030 Sept. 30 Cash -830 > Common Stock 18300 > Cash -2870 Sept. 5 x X 8540 Equipment X x Accounts Payable 5670 > Sept. 8 Accounts Receivable 18000 1001 > Service Revenue 18000 Sept. 14 Cash -1200 x x Advertising Expense -1200 IX > Sept. 25 Cash 3030 x Accounts Payable -3030 Sept. 30 Cash -830 x Dividends -830