On April 1, Splish Brothers Inc. began operations. The following transactions were completed during the month. 1. 2. 3. 4. 5. 6. 7. Issued common stock for $21,100 cash. Obtained a bank loan for $6,200 by issuing a note payable. Paid $9,700 cash to buy equipment Paid $1,100 cash for April office rent. Paid $1,300 for supplies Purchased $530 of advertising in the Daily Herald, on account. Performed services for $15,800: cash of $1,760 was received from customers, and the balance of $14,040 was billed to customers on account Paid $350 cash dividend to stockholders. Paid the utility bill for the month, $1,760. Paid Daily Herald the amount due in transaction (6). Paid $40 of interest on the bank loan obtained in transaction (2). 8. 9. 10. 11. Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug. 1 Cash 6,600 6,600 10 1.900 1.900 12 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable 5.700 1.540 4,160 25 2.520 On April 1, Splish Brothers Inc. began operations. The following transactions were completed during the month. 1. 2. 3. 4. 5. 6. 7. Issued common stock for $21,100 cash. Obtained a bank loan for $6,200 by issuing a note payable. Paid $9,700 cash to buy equipment Paid $1,100 cash for April office rent. Paid $1,300 for supplies Purchased $530 of advertising in the Daily Herald, on account. Performed services for $15,800: cash of $1,760 was received from customers, and the balance of $14,040 was billed to customers on account Paid $350 cash dividend to stockholders. Paid the utility bill for the month, $1,760. Paid Daily Herald the amount due in transaction (6). Paid $40 of interest on the bank loan obtained in transaction (2). 8. 9. 10. 11. Selected transactions from the journal of Splish Brothers Inc. during its first month of operations are presented here. Account Titles Debit Credit Date Aug. 1 Cash 6,600 6,600 10 1.900 1.900 12 Common Stock Cash Service Revenue Equipment Cash Notes Payable Accounts Receivable 5.700 1.540 4,160 25 2.520