E1-7 Brandon Computer Timeshare Company entered into the following transactions during May 2010. 1. Purchased computer terminals for $20,000 from Digital Equipment on account. 2. Paid $4,000 cash for May rent on storage space. 3. Received $15,000 cash from customers for contracts billed in April. 4. Provided computer services to Fisher Construction Company for $3,000 cash. 5. Paid Northern States Power Co. $11,000 cash for energy usage in May. 6. Brandon invested an additional $32,000 in the business. 7. Paid Digital Equipment for the terminals purchased in (1) above. 8. Incurred advertising expense for May of $1,200 on account.