Exercise 3-18 (Part Level Submission) Sheffield Corp. provides security services. Selected transactions for Sheffield Corp. are presented below Oct. 1 2 4 7 8 10 12 16 21 24 27 31 Issued common stock in exchange for $70,000 cash from investors. Hired part-time security consultant. Salary will be $2,100 per month. First day of work will be October 15 Paid 1 month of rent for building for $2,100 Purchased equipment for $19,100, paying $4,200 cash and the balance on account. Paid $500 for advertising Received bill for equipment repair cost of $410 Provided security services for event for $3,400 on account. Purchased supplies for $430 on account. Paid balance due from October 7 purchase of equipment. Received and paid utility bill for $157 Received payment from customer for October 12 services performed Paid employee salaries and wages of $5,400