1. Monroe Company rents and sells electronic equipment. During September, Monroe engaged in the transactions described below.

   Sept. 5		Purchased a Chevrolet truck for $27,200 cash.
   8		Purchased inventory for $3,300 on account.
   10		Purchased $1,400 of office supplies on credit.
   11		Rented sound equipment to a traveling stage play for $12,800. The producer of the play paid for the service at the time it was provided.
   12		Rented sound equipment and lights to a local student organization for a school dance for $3,500. The student organization will pay for services within 30 days.
   18		Paid employee wages of $4,170 that have been earned during September.
   22		Collected the receivable from the September 12 transaction.
   23		Borrowed $14,100 cash from a bank on a 3-year note payable.
   28		Issued common stock to new stockholders for $40,000.
   30		Paid a $4,350 cash dividend to stockholders.

   Required:

   Prepare a journal entry for each transaction.

   Sept. 5	Accounts Payable Cash Service Revenue Supplies Trucks
   	Accounts Receivable Cash Inventory Supplies Trucks
   	(Record purchase of truck)
   8	Accounts Payable Accounts Receivable Cash Inventory Service Revenue
   	Accounts Payable Accounts Receivable Cash Inventory Supplies
   	(Record purchase of inventory on account)
   10	Accounts Payable Accounts Receivable Service Revenue Supplies Supplies Expense
   	Accounts Payable Accounts Receivable Cash Inventory Supplies
   	(Record purchase of supplies on account)
   11	Accounts Payable Accounts Receivable Cash Notes Payable Service Revenue
   	Accounts Receivable Cash Dividends Service Revenue Wages Expense
   	(Record performance of services)
   12	Accounts Payable Accounts Receivable Cash Notes Payable Service Revenue
   	Accounts Payable Accounts Receivable Cash Common Stock Service Revenue
   	(Record performance of services on account)
   18	Accounts Payable Cash Service Revenue Wages Expense Wages Payable
   	Accounts Payable Accounts Receivable Cash Wages Expense Wages Payable
   	(Record payment of wages)
   22	Accounts Payable Accounts Receivable Cash Trucks Wages Expense
   	Accounts Payable Accounts Receivable Cash Common Stock Inventory
   	(Record collection of cash on account)
   23	Cash Common Stock Inventory Notes Payable Notes Receivable
   	Cash Notes Payable Notes Receivable Supplies Trucks
   	(Record borrowing of cash)
   28	Accounts Payable Accounts Receivable Cash Common Stock Inventory
   	Accounts Payable Accounts Receivable Cash Common Stock Dividends
   	(Record issuance of common stock)
   30	Accounts Receivable Cash Common Stock Dividends Notes Payable
   	Accounts Payable Accounts Receivable Cash Dividends Inventory
   	(Declared and paid cash dividend)