On August 31, the balance sheet ofSunland Companyshowed Cash $11,000, Accounts Receivable $3,700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $14,750, and Retained Earnings $950. During September, the following transactions occurred.

1.Paid $2,700cash for accounts payable due.2.Collected $2,250of accounts receivable.3.Purchased additional equipment for $2,150, paying $800in cash and the balance on account.4.Recognized revenue of $7,650, of which $1,750is collected in cash and the balance is due in October.5.Declared and paid a $1,450cash dividend.6.Paid salaries $2,400, rent for September $1,100, and advertising expense $100.7.Incurred utilities expense for month on account $200.8.Received $10,000from Capital Bank on a 6-month note payable.