On April 1, Skysong, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $26,400 cash. 2. Obtained a bank loan for $7,700 by issuing a note payable. 3. Paid $12,100 cash to buy equipment. 4. Paid $1,300 cash for April office rent. 5. Paid $1,600 for supplies. 6. Purchased $660 of advertising in the Daily Herald, on account. 7. Performed services for $19,800: cash of $2,200 was received from customers, and the balance of $17,600 was billed to customers on account. 8. Paid $440 cash dividend to stockholders. 9. Paid the utility bill for the month, $2,200. 10. Paid Daily Herald the amount due in transaction (6). 11. . Paid $40 of interest on the bank loan obtained in transaction (2). 12. Paid employees' salaries, $7,040. 13. Received $13,200 cash from customers billed in transaction (7). 14. Paid income tax, $1,650. Journalize the transactions. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. 7. 8. 9 10. 11. 12 13. 14