In March 201 1, Mary Tone organized a corpocation to penvide package delivery services, Th counting Cycie: pany, called Tone Deliveries, Inc,, began operations immediately, Transactions during the alizing, Posting. of Match were as follow: reparing a Trial Mar. 2 The carporation issued 40.000 shares nf capital stock to Mary Tone in exchange ce for S80,000 cash. Mar. 4 Purchased a truck for $45,000, Made a $15,000) cash down payment and issued a note payable for the remainine halance, Mar. 5 Puid Sloun Properties $2.500 to rent office space foe the monih. Mar. Rilled customers $1 1 300 for services for the first half of March, Mar. 15 Paid $7,100 in salaries cured by employees during the first half of March. Mar. 19 Paid Bill's Auto S900 for maintenance and repair services on the compuny truck Mar. 20 Collected $3,800 of the amounts tilled to cusaomers on March 9 Mar. 28 Billed customers $14,400 for services performed during the second half of the Mar. 30 Paid $7,500 in salaries carned by employees during the second half of the mont Mar. 30 Received an S830 bill from SY Petroleum far fuel purchased in March. The en amount is due hy April 15, Mar. 30 Declared a $1,200 dividend payable on April 3).