On August 31, the balance sheet of Skysong, Inc. showed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $15,000, and Retained Earnings $700. During September, the following transactions occurred.

1.		Paid $3,050 cash for accounts payable due.
2.		Collected $1,500 of accounts receivable.
3.		Purchased additional equipment for $2,600, paying $850 in cash and the balance on account.
4.		Recognized revenue of $8,800, of which $3,200 is collected in cash and the balance is due in October.
5.		Declared and paid a $500 cash dividend.
6.		Paid salaries $2,350, rent for September $1,150, and advertising expense $100.
7.		Incurred utilities expense for month on account $240.
8.		Received $13,500 from Capital Bank on a 6-month note payable.