1. (60 Points) Prepare journal entries for the transactions for Gordon Co for the month of July 2021. 7/2 7/3 715 7/9 Barry Gordon invested 30,000 to start the business Paid 1,100 for the current month's rent Purchased 1,500 of supplies on account. Purchased advertising from Evening Journal at a cost of 1,250 payable in 15 days. 7/15 Provided 2,000 of service to H Co. collected 500 cash and balance on account 7/19 Paid for advertising purchased from the Evening Journal on 7/9 7/21 Purchased equipment from T Co. for 6,500, paid cash 1,500 and balance on account 7/24 Hired assistant at a salary of 750 per week 7/28 Received 1,000 cash advance for service to be provided in August 7/29 Received utility bill for 225 7/30 Collected accounts receivable from H Co. 7/31 Gordon withdrew 2,000 cash for personal use 7/31 Paid assistant 750 salary for the week. 2. (80 Points) Davidson Company was started on May 1, 2021 by Jane Davidson. Using the adjusted account balances below, prepare IN GOOD FORM the Income Statement, Owner's Equity Statement and Balance Sheet for the month ended May 31, 2021. Advertising Expense Accounts Payable Accounts Receivable Accumulated Depreciation: Equipment Cash Depreciation Expense Equipment Insurance Expense 6,000 10,000 15,400 8,000 10,300 14,000 34,000 3,200 Interest Expense 2,800 Notes Payable Prepaid Insurance Rent Expense Salaries Expense 12,000 2,600 $3,000 39,000 Salaries Payable 7,500 Service Revenue 90,000 Miscellaneous Expense 2,000 Owner's Capital 20,000 Owner's Drawing Supplies Supplies Expense 10,000 2,500 5,700 Unearned Revenue 5,000 GENERAL JOURNAL Date Account Titles & Explanation Ref. Debit Pag 1 Credit Owners Equity Statement Balance Sheet Income Statement Owners Equity Statement