Current Attempt in Progress

Selected transactions for Pharoah Company during its first month in business are as follows.

Sept. $1$ Stockholders invested $$11,500$ cash in the business in exchange for common stock.

$5$ Purchased equipment for $$13,500$ paying $$2,600$ in cash and the balance on account.

$25$ Paid $$1,720$ cash on balance owed for equipment.

$30$ Declared and paid a $$510$ cash dividend.

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