Transaction Entries, Posting, Trial Balance, and Adjusting Entries The Wellness Catering Service had the following transactions in July, its first month of operations Kelly Foster contributed personal funds in exchange for common stock to begin the $26,000 business 2 Purchased the following for cash: make a compound entry) Delivery van 3,780 Equipment 3,240 Supplies 2,600 3 Paid one-year premium on liability insurance policy 2,076 4 Entered into a contract with a local service club to cater 760 weekly luncheon meetings for one year at 4,560 per month. Received 6 months fees in advance 5 Paid rent for July, August, and September 3,330 6 Paid employee's two weeks' wages (five-day week) 2,700 5,500 7 Billed customers for services rendered 8 Purchased supplies on account 4,400 9 Paid employee's two weeks' wages 2,700 700 10 Paid July bill for gas, oil and repairs on delivery van 11 Collected on account from customers 4,700 12 Billed customers for services rendered 5,800 13 Foster received a dividend 2,900