In June, current year, Wendy Winger organized a corporation to provide aerial photography services. The company, called Aerial Views, began operations immediately. Transactions during the month of June were as follows.

June	1		The corporation issued 60,000 shares of share capital to Wendy Winger in exchange for $60,000 cash.
June	2		Purchased a plane from Utility Aircraft for $220,000. Made a $40,000 cash down payment and issued a note payable for the remaining balance.
June	4		Paid Woodrow Airport $2,500 to rent office and hangar space for the month.
June	15		Billed customers $8,320 for aerial photographs taken during the first half of June.
June	15		Paid $5,880 in salaries earned by employees during the first half of June.
June	18		Paid Hannigans Hangar $1,890 for maintenance and repair services on the company plane.
June	25		Collected $4,910 of the amounts billed to customers on June 15.
June	30		Billed customers $16,450 for aerial photographs taken during the second half of the month.
June	30		Paid $6,000 in salaries earned by employees during the second half of the month.
June	30		Received a $2,510 bill from Peatree Petroleum for aircraft fuel purchased in June. The entire amount is due July 10.
June	30		Declared a $2,000 dividend payable on July 15.