Stockholders invested $50,000 cash in exchange for common stock

Purchased office equipment costing $15,000. A cash payment of $5,000 was made immediately; the remainder will be paid in 3 months.

Signed a 1-year rental agreement on an office; paid $12,000 cash in advance for the first six months.

Purchased basic office supplies for $1,200 on account.

Earned $20,000 on an advertising service that has been completed$10,000 cash and the balance on account.

Hired a secretary who will be paid a monthly salary of $2,500.

Collected $10,000 for an advertising service that will be rendered over the next two months.

Received $5,000 from customers in payment of accounts receivable.

Made a cash payment of $300 for utility bills received

Paid $2,000 dividends to shareholders.