q1

Selected transactions for Crane Corporation during its first month in business are presented below. Sept.1 Issued common stock in exchange for $21,600 cash received from investors. 5 Purchased equipment for $9,310, paying $2,540 in cash and the balance on account. 8 Performed services on account for $18,100. 14 Paid salaries of $1,300. 25 Paid $3,020 cash on balance owed for equipment: 30 Paid $820 cash dividend