Selected transactions for Blossom Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $19,000 cash. 2 Paid $1,500 cash for rent for the month of September. 5 Purchased equipment for $10,000, paying $1,900 in cash and the balance on account. 8 Earned $7,200 in revenue, receiving $1,000 cash and $6,200 on account of services provided. 12 Incurred $600 in advertising expense on account. 20 Paid $2,900 for repairs and maintenance expenses. 25 Paid $4,500 cash on balance owed for equipment. 27 Incurred and paid income taxes for the month amounting to $800. 30 Declared and paid a $500 cash dividend.