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Exercise 2-9 On April 1, Kingbird, Inc. began operations. The following transactions were completed during the m 1. Stockholders invested $23,000 in the business in exchange for common stock 2. Obtained a bank loan for $6,700 by issuing a note payable. 3. Paid $10,600 cash to buy equipment. 4. Paid $1,200 cash for April office rent. 5. Paid $1,400 for supplies. 6. Purchased $580 of advertising in the Daily Herald, on account. 7. Performed services for $17,300: cash of $1,920 was received from customers, and the balance of $15,380 was billed to customers on account. 8. Paid $380 dividend to stockholders. 9. Paid the utility bill for the month, $1,920 10. Paid Daily Herald the amount due in transaction (6). 11. Paid $40 of interest on the bank loan obtained in transaction (2). 12. Paid employees' salaries and wages, $6,140 13. Received $11,520 cash from customers billed in transaction (7). Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do n ot indent manually. If no entry is required, select "No Entr No. Account Titles and Explanation Debit Credit 1. 2