Fredonia Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $15,000 cash in the...

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Fredonia Repair Inc. was started on May 1. A summary of May transactions is presented below.

1.		Stockholders invested $15,000 cash in the business in exchange for common stock.
2.		Purchased equipment for $4,500 cash.
3.		Paid $600 cash for May office rent.
4.		Paid $600 cash for supplies.
5.		Incurred $200 of advertising costs in the Beacon News on account.
6.		Received $5,300 in cash from customers for repair service.
7.		Declared and paid a $1,300 cash dividend.
8.		Paid part-time employee salaries $900.
9.		Paid utility bills $120.
10.		Performed repair services worth $910 on account.
11.		Collected cash of $100 for services billed in transaction (10).

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