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Selected transactions for Riverbed, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $15,100 in
Selected transactions for Riverbed, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $15,100 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $360. 4. Billed customers $3,720 for services performed; 5. Paid $130 cash for advertising at the start of the business. 6. Received $1,920 cash from customers billed in transaction (4). 7. Paid creditor $200 cash on account. 8. Paid dividends of $440 cash to stockholders
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