Required informationSkip to question[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 $2,500.March 3 Purchase sewing equipment by signing a note with the local bank, $2,200.March 5 Pay rent of $550 for March.March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $750. Martha is not required to pay for the alterations until the work is complete.March 12 Purchase sewing supplies for $125 on account. This material will be used to provide services to customers.March 15 Ute delivers altered dresses to Martha and receives $750.March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $650 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 $90 for the current period.March 31 Pay dividends of $125 to stockholders.

IN N IN 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. 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.) IN March 1 Issue common stock in exchange for cash of $2,500. March 3 Purchase sewing equipment by signing a note with the local bank, $2,200. March 5 Pay rent of $550 for March. IN March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $750. Martha is not required to pay for the alterations until the work is complete. March 12 Purchase sewing supplies for $125 on account. This material will be used to provide services to customers. March 15 Ute delivers altered dresses to Martha and receives $758. March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $650 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 $90 for the current period. March 31 Pay dividends of $125 to stockholders. View transaction list No 1 2 1 6 5 7 8 9 Date March 01 March 03 March 05 March 07 March 12 March 15 March 19 March 25 March 30 View journal entry worksheet Cash Common Stock Equipment Notes Payable Rent Expense Cash No Journal Entry Required Supplies Accounts Payable Cash Accounts Payable Cash Deferred Revenue Deferred Revenue Accounts Payable Utilities Expense Cash General Journal Debit 2,500 2,200 550 125 750 650 650 90 Credit 2,500 2,200 550 125 750 650 650 90