Question 2 --/1 View Policies Current Attempt in Progress On April 1, Metlock, Inc. began operations. The following transactions were completed during the month. 1. Issued common stock for $19,200 cash. 2. Obtained a bank loan for $5,600 by issuing a note payable. 3. Paid $8,800 cash to buy equipment. 4. Paid $1,000 cash for April office rent. 5. Paid $1,150 for supplies. 6. Purchased $480 of advertising in the Daily Herald, on account. 7. Performed services for $14,400: cash of $1,600 was received from customers, and the balance of $12,800 was billed to customers on account. 8. Paid $320 cash dividend to stockholders. 9. Paid the utility bill for the month, $1,600. 10. Paid Daily Herald the amount due in transaction (6). 11. Paid $30 of interest on the bank loan obtained in transaction (2). 12. Paid employees' salaries, $5,120. 13. Received $9,600 cash from customers billed in transaction (7). 14. Paid income tax, $1,200. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. 6