Sage Hill Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $11,000 cash in the business in exchange for common stock. 2. Purchased equipment for $4,500 cash. 3. Paid $400 cash for May office rent. 4. Paid $500 cash for supplies. 5 . Incurred $200 of advertising costs in the Beacon News on account. 6. Received $4,300 in cash from customers for performing repair service. 7. Paid a $1,000 cash dividend. 8 Paid part-time employee salaries $1,000. 9 Paid utility bills $160. 10. Performed repair services worth $930 on account 11. Collected cash of $140 for services billed in transaction (10). Sage Hill Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $11,000 cash in the business in exchange for common stock. 2. Purchased equipment for $4,500 cash. 3. Paid $400 cash for May office rent. 4. Paid $500 cash for supplies. 5 . Incurred $200 of advertising costs in the Beacon News on account. 6. Received $4,300 in cash from customers for performing repair service. 7. Paid a $1,000 cash dividend. 8 Paid part-time employee salaries $1,000. 9 Paid utility bills $160. 10. Performed repair services worth $930 on account 11. Collected cash of $140 for services billed in transaction