Selected transactions for Craig Stevenson Corporation during its first month in business are presented below.

Sept. 1 Invested \(\$ 15,000\) cash in the business in exchange for common stock.

5 Purchased equipment for \(\$ 10,000\) paying \(\$ 5,000\) in cash and the balance on account.

25 Paid \(\$ 3,000\) cash on balance owed for equipment.

30 Declared and paid a \(\$ 500\) cash dividend.

Stevenson's chart of accounts shows: Cash, No. 101; Equipment, No. 157; and Accounts Payable, No. 201; Common Stock, No. 311; and Dividends, No. 332.

\section*{Instructions}

(a) Journalize the transactions on page \(\mathrm{J} 1\) of the journal.

(b) Post the transactions using the standard account form.