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On April 1, Blossom Travel Agency, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $28,800 cash. 2. Obtained a bank loan for $8,400 by issuing a note payable. 3. Paid $13,200 cash to buy equipment. 4. Paid $1,400 cash for April office rent. 5. Paid $1,750 for supplies. 6. Purchased $720 of advertising in the Doily Herald, on account. 7. Performed services for $21,600 : cash of $2,400 was received from customers, and the balance of $19,200 was billed to customers on account. 8. Paid $480 cash dividend to stockholders. 9. Paid the utility bill for the month, $2,400. 10. Paid Daily Herald the amount due in transaction (6). 11. Paid $50 of interest on the bank loan obtained in transaction (2). 12. Paid employees' salaries, $7,680. 13. Received $14,400 cash from customers billed in transaction (7). 1. Issued common stock for $28,800 cash. 2. Obtained a bank loan for $8,400 by issuing a note payable. 3. Paid $13,200 cash to buy equipment. 4. Paid $1,400 cash for April office rent. 5. Paid $1,750 for supplies. 6. Purchased $720 of advertising in the Daily Herald, on account. 7. Performed services for $21,600 : cash of $2,400 was received from customers, and the balance of $1. customers on account. 8. Paid $480 cash dividend to stockholders. 9. Paid the utility bill for the month, $2,400. 10. Paid Daily Herald the amount due in transaction (6). 11. Paid $50 of interest on the bank loan obtained in transaction (2). 12. Paid employees' salaries, $7,680. 13. Received $14,400 cash from customers billed in transaction (7). 14. Paid income tax, $1,800. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6. 6. 7. 8. 9. 10. 11. 11. 12. 13. 14

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