Required information [The following information apples to the questions displayed below) Rocky owns and operates Balboa's Gym located in Philadelphia. The following transactions occur for the month of October October 2 Receive membership dues for the month of October totaling $7,600. October 5 Issue common stock in exchange for cash, $11,000. October 9 Purchase additional boxing equipment for $8,700, paying one-half of the amount in cash and the other one half due by the end of the year. October 12 Pay $1100 for advertising regarding a special membership rate available during the month of October October 19 Pay dividends to stockholders, $3,500. October 22 Pay liability insurance to cover accidents to members for the next six months, starting November 1, $6,300. October 25 Receive cash in advance for November memberships, $4,700. October 30 Receive, but do not pay, utilities bill for the month, $4,300. October 31 Pay employees' salaries for the month, $6,400. 3. Assume the balance of cash at the beginning of October is $15.700. Post each cash transaction to the cash T-account. October 1 Cash 15.700 End. Bal 15,700