Blossom Computer Corporation had the following opening account balances at the end of April: Cash $4,000; Accounts Receivable $6,000; Accounts Payable $2,000; Common Shares $5,000; and Retained Earnings $3,000. It entered into the following transactions during the month of May: 1. Purchased equipment on account for $7,500. 2. Paid $1,100 for rent for the month of May. 3. Provided computer services for $3800 on account. 4. Paid Ontario Hydro $300 cash for utilities used in May 5. Borrowed $19,500 from the bank. 6. Paid supplier for equipment purchaged in transaction 1. 7. Purchased a one-year accident insurance policy for $500 cash. 8. Received $2.500 cash in partial payment of the account owed in transaction 3. 9. Declared and paid $500 of dividends to shareholders. 10. Paid income tax of 5250 for the month. No. Account Tities and Explanation Debit Credit 1. 2. 3. 4