July 3 Company pays $9,000 for office rental for July. July 4 Company pays $6,000 for a one-year insurance policy that will expire next year on June 30. July 5 Company purchases for $25,000, on account, an estimated 3-month supply of advertising materials from Aero Supply. July 9 Company signs a contract with a local newspaper to produce a flyer. Payment of $700 would be received in September upon delivery and production would start in August. July 20 Company's board of directors declared and paid cash dividends of $5,000 to shareholders