No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 3. 4. 5. 6. 7. 8. Selected transactions for Blue, an interior decorator corporation, in its first month of business, are as follows. 1 Issued stock to imvestors for $15,700 in cash. 2. Purchased used car for $10,800 cash for use in business. 3. Purchased supplies on account for $370. 4. Billed customers $5,150 for services performed. 5. Paid $270 cash for advertising at the start of the business. 6. Received $1.230 cash from customers billed in transaction (4). 7. Paid creditor $250 cash on account. 8. Paid dividends of $370 cash to stockholders