Swifty Computer had the following transactions during the month of May. 1. Purchased equipment on account for $8,000. 2. Paid $1,400 for rent for the month of May. 3. Performed computer services for $3,600 on account. 4. Paid Buffalo Hydro $500 cash for utilities used in May. 5. Borrowed $24,000 from the bank. 6. Paid supplier for equipment purchased in transaction (1). 7. Purchased a one-year insurance policy for $450 cash. 8. Received $3,200 cash in partial payment of the account owed in transaction (3). 9. Declared and paid $430 of dividends to stockholders. 10. Paid incomes taxes of $340 for the month.