Current Attempt in Progress Selected transactions for Sandhill Corporation during September 2018, its first month in business, are presented below: Sept. 1 2 5 8 12 Issued common shares in exchange for $21,000 cash. Paid $1,700 cash for rent for the month of September. Purchased equipment for $9.900, paying $1.900 in cash and the balance on account Earned $7,000 in revenue, receiving $1,000 cash and $6,000 on account of services provided. Incurred $400 in advertising expense on account. Paid $2,800 for repairs and maintenance expenses. Paid $4,700 cash on balance owed for equipment Incurred and paid income taxes for the month amounting to $900. Declared and paid a $400 cash dividend. 20 25 27 30 Assets Liabilit Cash Accounts Receivable Equipment Accounts Sept 1 Sept 2 Sept 5 Sept. 8 Sept 12 Sept. 20 Sept. 25 Sept. 27 Sept. 30 - 15 Liabilities Shareholders' Equity Retained Earning Accounts Payable Common Shares Revenues Expenses Retained Earnings Common Shares Revenues Expenses Dividends Declared