Exercise 2-3 Selected transactions for L. Takemoto, an interior decorating firm, in its first month of business, are as follows. Jan. 2 Invested $15,000 cash in the business in exchange for common stock. 3 Purchased used car for $8,200 cash for use in the business. 9 Purchased supplies on account for $500. 11 Billed customers $1,800 for services performed. 16 Paid $200 cash for advertising. 20 Received $780 cash from customers billed on January 11. 23 Paid creditor $300 cash on balance owed. 28 Declared and paid a $500 cash dividend. Fredonia Repair Inc. Income Statement Click if you would like to Show Work for this question: Open Show Work