Problem 3-1A On April 1, Teal Mountain Inc. was established. These transactions were completed during the month. 1. Stockholders invested $31,000 cash in the company in exchange for common stock. 2. Paid $870 cash for April office rent. 3. Purchased office equipment for $3,530 cash. 4. Purchased $370 of advertising in the Chicago Tribune, on account. 5. Paid $530 cash for office supplies. 6. Performed services worth $11,300. Cash of $3,400 is received from customers, and the balance of $7,900 is billed to customers on account. 7. Paid $250 cash dividends. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees salaries $1,480. 10. Received $7,900 in cash from customers billed previously in transaction (6).