Question 8 of 8 -/2 View Policies Current Attempt in Progress Selected transactions for Cullumber Company during its first month in business are presented below. Sept. 1 5 25 30 Stockholders invested $10,000 cash in the business in exchange for common stock. Purchased equipment for $10,000 paying $2,000 in cash and the balance on account. Paid $1,000 cash on balance owed for equipment. Declared and paid a $500 cash dividend. Cullumber's chart of accounts shows No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 311 Common Stock, and No. 332 Dividends. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Remondiournal entries in the order presented in the nmhlom Post the transactions using the standard account form. (Post entries in the order of journal entries presented in the previous part) Cash No. 101 Balance Date Explanation Ref. Debit Credit J1 J1 J1 J1 Equipment Date No. 157 Balance Credit Debit Explanation Ref. J1 Accounts Payable Date Explanation Ref. No. 201 Balance Debit Credit 11 J1 No. 311 Debit Common Stock Date Explanation Ref. Credit Balance J1 No. 332 Dividends