During the first month of operations, Smith Services, Inc., completed the following transactions: (Click the icon to view the transaction data.) Read the requirements. Requirement 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required. (Recom May 2: Smith Services received $64,000 cash and issued common stock to the stockholders. More info May 2 Smith Services received $64,000 cash and issued common stock to the stockholders. May 3 Purchased supplies, $400, and equipment, $11,700, on account. X May 4 Performed services for a customer and received cash, $5,600. entry.) May 7 Paid cash to acquire land, $36,000. May 11 Performed services for a customer and billed the customer, $4,700. Smith expects to collect within one month. May 16 Paid for the equipment purchased May 3 on account. May 17 Paid for newspaper advertising, $580. May 18 Received partial payment from customer on account, $2,600. May 22 Received and paid the water and electricity bills, $410. May 29 Received $2,900 cash for servicing the heating unit of a customer. May 31 Paid employee salaries, $1,700. May 31 Declared and paid dividends of $1,900. Print Done