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 March 1 Issue common stock in exchange for cash of $1,700. 3 Purchase sewing equipment by signing a note with the local bank, $1,400. March 5 Pay rent of $470 for March. March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $670. Martha is not required to pay for the alterations until the work is complete. March 12 Purchase sewing supplies for $117 on account. This material will be used to provide services to customers. March 15 Ute delivers altered dresses to Martha and receives $670. March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $570 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 $82 for the current period. March 31 Pay dividends of $85 to stockholders. Required: 1. Record each transaction. (If no entry is required for a particular transaction/event, select "No journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 9 10 > Issue common stock in exchange for cash of $1,700.