On April 1, OrioleTravel Agency began operations. The following transactions were completed during the month.
1. Shareholders invested $21,000 in the business in exchange for ordinary shares.
2. Obtained a bank loan for $6,000 by issuing a note payable.
3. Paid $12,900 cash to buy equipment.
4. Paid $1,300 cash for April office rent.
5. Paid $1,500 for supplies.
6. Purchased $700 of advertising in the Daily Herald, on account.
7. Performed services for $17,900: cash of $2,700 was received from customers, and the balance of $15,200 was billed to customers on account.
8. Declared and paid a cash dividend of $400.
9. Paid the utility bill for the month, $2,000.
10. Paid Daily Herald the amount due in transaction (6).
11. Paid $60 of interest on the bank loan obtained in transaction (2).
12. Paid employees’ salaries and wages, $6,400.
13. Received $11,000 cash from customers billed in transaction (7).
Journalize the transactions.
