Question 2 Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions July 1 Stockholders invested $16,000 cash in the business in exchange for common stock. 1 Purchased a used truck for $10,000, paying $3,200 cash and the balance on account. 3 Purchased cleaning supplies for $700 on account. 5 Paid $2,280 on a 1-year insurance policy, effective July 1 12 Billed customers $3,500 for cleaning services. 18 Paid $1,100 of amount owed on truck, and $270 of amount owed on cleaning supplies. 20 Paid $1,700 for employee salaries 21 Collected $1,500 from customers billed on July 12 25 Billed customers $1,800 for cleaning services. 31 Paid gasoline for the month on the truck, $500. 31 Declared and paid a $600 cash dividend