1 2 Wildhorse Computer Corporation had the following opening account balances at the end of April: Cash $5.000 Accounts Receivable $8,000; Accounts Payable $3.000: Common Shares $5,000 and Retained Earnings $5,000. It entered into the following transactions during the month of May: Purchased equipment on account for $7.900. Paid $2,100 for rent for the month of May. 3 Provided computer services for $4.000 an account Paid Ontario Hydro $400 cash for utilities used in May. Borrowed $19.700 from the bank. Paid supplier for equipment purchased in transaction 1 Purchased a one-year accident insurance policy for $500 cash, 8 Received $3,400 cash in partial payment of the account owed in transaction 3, Declared and paid $500 of dividends to shareholders 10. Paid income tax of $250 for the month, 4 5 2 2. Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit 1. Equipment 7900 Accounts Payable 7900 2 1 3 5 7 9 10