The following selected transactions were completed by Salvo Delivery Service during February: 1. Received cash from owner as additional investment in exchange for common stock, $35,000. 2. Paid creditors on account, $1,800. 3. Billed customers for delivery services on account, $11,250. 4. Received cash from customers on account, $6.740. 5. Paid dividends, $1.000. Requirements: Indicate the effect of each transaction on the following accounting equation elements: Assets, Liabilities, Common Stock.Dividends, Revenue, and Expense. To illustrate, the answer to (1) follows: (1) Asset (Cash) increases by $35,000: Common Stock increases by $35.000.

The October transactions were as follows. Oct. 5   Received $1,510 in cash from customers for accounts receivable due. 10   Billed customers for services performed $5,050. 15   Paid employee salaries $1,110. 17   Performed $570 of services in exchange for cash. 20   Paid $1,980 to creditors for accounts payable due. 29   Paid a $300 cash dividend. 31   Paid utilities $320.

Listed below are eight transactions the Foster Corporation made during November:a. Issued stock in exchange for cash.b. Purchased land. Made partial payment with cash and issued a note payable for the remainingbalance.c. Recorded utilities expense for November. Payment is due in mid-December.d. Purchased office supplies with cash.e. Paid outstanding salaries payable owed to employees for wages earned in October.f. Declared a cash dividend that will not be paid until late December.g. Sold land for cash at an amount equal to the land’s historical cost.h. Collected cash on account from customers for services provided in September and October.Indicate the effects of the above transactions on each of the financial statement elements shownin the column headings below. Use the following symbols: I Increase, D Decrease, andNE no effect. Transaction Net Income Assets Liabilities Equitya.b.c.d.e.f.g.h.Transaction Net Income Assets Liabilities Equitya.b.c.d.e.f.g.h.Transaction

Record the following selected transactions for April.