Selected transactions for Ivanhoe 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 $10,400, paying $2,200 in cash and the balance on account. Earned $6,700 in revenue, receiving $1,100 cash and $5,600 on account of services provided. 8 12 Incurred $600 in advertising expense on account. 22 Paid $3,000 for repairs and maintenance expenses. 20 25 Paid $5,100 cash on balance owed for equipment. 27 Incurred and paid income taxes for the month amounting to $1,000. 30 Declared and paid a $600 cash dividend.