On August 31, the balance sheet of Kingbird, Inc. showed Cash $10,000, Accounts Receivable $2,700, Supplies $600, Equipmen $6,000, Accounts Payable $4,600, Common Stock $13,950, and Retained Earnings $750. During September, the following transactions occurred. 1. 2. 3. 4. 5. 6. 7. 8. Paid $3,300 cash for accounts payable due. Collected $2,000 of accounts receivable. Purchased additional equipment for $1,150, paying $750 in cash and the balance on account. Recognized revenue of $8,100, of which $2,250 is collected in cash and the balance is due in October. Declared and paid a $450 cash dividend. Paid salaries $2,050, rent for September $1,050, and advertising expense $100. Incurred utilities expense for month on account $250. Received $14,000 from Capital Bank on a 6-month note payable. Retained Earnings 750.00 i 8,100 Revenues 8,100 SA Expenses ||||| Dividends