Required information [The following information applies to the questions displayed below.) Below are the transactions for Ute Sewing Shop for March, the first month of operations. March 1 Issue common stock in exchange for cash of $1,300. March 3 Purchase sewing equipment by signing a note with the local bank, $1,000. March 5 Pay rent of $430 for March. March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $630. Martha is not required to pay for the alterations until the work is complete. March 12 Purchase sewing supplies for $113 on account. This material will be used to provide services to customers. March 15 Ute delivers altered dresses to Martha and receives $630. March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $530 from Bob and promises the suits to be completed by March 25. March 25 Ute delivers 10 altered business suits to Bob. March 30 Pay utilities of $78 for the current period. March 31 Pay dividends of $65 to stockholders. 3. Post each transaction to the appropriate T-accounts and calculate the balance of each account at March 31. Cash Answer is not complete. Beg. Bal. Beg. Bal. March 11 1,300 430 March 5 March 15 630- 78 March 30 March 19 530 65 March 31 End. Bal. End. Bal. 2,460 2,460 Equipment Beg. Bal. March 31 1,000 End. Bal. 1,000 Deferred Revenue Beg. Bal. March 25 530 End. Bal. 530 Common Stock Beg. Bal 1,000 End. Bal. Beg. Bal 530 End. Bal. Supplies Accounts Payable Notes Payable Dividends Common Stock Beg. Bal. End. Bal. 1,000 Dividends Beg. Bal. 1,000 March 3 x 1,000 End. Bal. Service Revenue Rent Expense Beg. Bal. Beg. Bal. 630 March 15 530 March 25 + End. Bal. 1,160 1,160 End. Bal. Utilities Expense Beg. Bal. End. Bal