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 $1,800. March 3 Purchase sewing equipment by signing a note with the local bank, $1,500. March 5 Pay rent of $480 for March. March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $680. Martha is not required to pay for the alterations until the work is complete. March 12 Purchase sewing supplies for $118 on account. This material will be used to provide services to customers. March 15 Ute delivers altered dresses to Martha and receives $680. March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $580 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 $83 for the current period. March 31 Pay dividends of $90 to stockholders. 4. Prepare a trial balance as of March 31 4. Prepare a trial balance as of March 31. Credit s UTE SEWING SHOP Trial Balance March 31 Accounts Debit Cash $ 1,800 Supplies Equipment 1,500 Accounts Payable Deferred Revenue Notes Payable Common Stock Dividends Service Revenue Rent Expense Utilities Expense Totals $ 3,300 $ 1,500 1,800 3,300