On April 1, Kingbird Travel Agency Inc. was established. These transactions were completed during the month.

1. Stockholders invested $37,200 cash in the company in exchange for common stock. 2. Paid $1,116 cash for April office rent. 3. Purchased office equipment for $4,216 cash. 4. Purchased $248 of advertising for the month in the Chicago Tribune, on account. 5. Paid $620 cash for office supplies. 6. Performed services worth $14,880. Cash of $3,720 is received from customers, and the balance of $11,160 is billed to customers on account. 7. Paid $496 cash dividend. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees salaries $2,232. 10. Received $11,160 in cash from customers billed previously in transaction (6).