On April 1, Kingbird, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $17,800 cash. 2. Obtained a bank loan for $5,200 by issuing a note payable. 3. Paid $8,100 cash to buy equipment. 4. Paid $900 cash for April office rent. 5. Paid $1,050 for supplies. 6. Purchased $440 of advertising in the Daily Herald, on account. 7. Performed services for $13,300: cash of $1.480 was received from customers, and the balance of $11,820 was billed to customers on account. 8. Paid $300 cash dividend to stockholders. 9. Paid the utility bill for the month, $1,480. 10. Paid Daily Herald the amount due in transaction (6). 11. 12. 22 Paid $30 of interest on the bank loan obtained in transaction (2). Paid employees' salaries, $4.740. 13. Received $8,880 cash from customers billed in transaction (7). 14. Paid income tax, $1,110. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. 7. 8. 10. 11. 10. 11. 12. 12 13. 14