Current Attempt in Progress Selected transactions for Cullumber Corporation during September 2018, its first month in business, are presented below: Sept. 1 Issued common shares in exchange for $18,000 cash. 2 Paid $1,300 cash for rent for the month of September. 5 Purchased equipment for $9,700, paying $2,000 in cash and the balance on account. 8 Earned $6,900 in revenue, receiving $1,100 cash and $5,800 on account of services provided. 12 Incurred $500 in advertising expense on account. 20 25 Paid $3,000 for repairs and maintenance expenses. Paid $4,900 cash on balance owed for equipment. 27 Incurred and paid income taxes for the month amounting to $1,000. 230 30 Declared and paid a $600 cash dividend. Sept. 1 Sept. 2 Sept. 5 Sept. 8 Sept. 12 Sept. 20 Sept. 25 Sept. 27 Sept. 30 Cash 1800 Assets Liabilities Accounts + Receivable Equipment = Accounts Payab