Selected transactions for Sheffield, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $17,000 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $340. 4. Billed customers $4,620 for services performed. 5. Paid $140 cash for advertising at the start of the business. 6. Received $1,460 cash from customers billed in transaction (4). 7. Paid creditor $370 cash on account. 8. Paid dividends of $450 cash to stockholders. (a)