Skidmore Music Company had the following transactions in March: Sold instruments to customers for $16,300; received $11,200 in cash and the rest on account. The cost of the instruments was $8,700. Purchased $4,300 of new instruments inventory; paid $1,600 in cash and owed the rest on account. Paid $610 in wages to employees who worked during the month. Received $4,200 from customers as deposits on orders of new instruments to be sold to the customers in April. Received a $270 bill for March utilities that will be paid in April.