Kimmel, Accounting, 6e tiee Gradebook ORION Downloadable eTextbook ment CALCULAToR Exercise 3-12 On April 1, Metlock, Inc. began operations. The following transactions were completed during the month 1. Issued common stock for $25,000 cash. 2. Obtained a bank loan for $7,300 by issuing a note payable. 3. Paid $11,400 cash to buy equipment. 4. Paid $1,200 cash for April office rent s. Paid $1,500 for supplies 6. Purchased $620 of advertising in the Daily Herald, on account 7. Performed services for $18,700: cash of $2,080 was received from customers, and the balance of $16,620 was billed to customers on account 8. Paid $420 dividend to stockholders. 9. Paid the utility bill for the month, $2,080 10. Paid Daily Heraid the amount due in transaction (6) 11. Paid $40 of interest on the bank loan obtained in transaction (2) 12. Paid employees' salaries, $6,660. 13, Received S12,48ash from customers biled in transaction (7) Paid income tax, $1,560. 14. urnize the transact ons. (If no entry is required, selectNo Entry" for the account titles and enter O for the amounts. Credit account amount is entered. Do not indent manually.) No. Account Titles and Explanation