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Holden Graham started The Graham Co., a new business that began operations on May 1. The Graham Co. completed the following transactions during its first
Holden Graham started The Graham Co., a new business that began operations on May 1. The Graham Co. completed the following transactions during its first month of operations. May 1 H. Graham invested S44.000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,200 cash for May's rent.. 3 The company purchased $1,880 of office equipment on credit. 5 The company paid S740 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,200 cash. 12 The company provided $2,800 of consulting services for a client on credit. 15 The company paid S720 cash for an assistant's salary for the first half of this month. 20 The company received 52,800 cash payment for the services provided on May 12. 22 The company provided S3,600 of consulting services on credit. 25 The company received S3,600 cash payment for the services provided on May 22. 26 The company paid S1,880 cash for the office equipment purchased on May 3. 27 The company purchased $90 of advertising in this month's (May) local paper on credit; cash payment is due June 1. 28 The company paid S720 cash for an assistant's salary for the second half of this month. 30 The company paid S300 cash for this month's telephone bill. 30 The company paid S260 cash for this month's utilities. 31 The company paid S1,900 cash in dividends to the owner (sole shareholder). Enter the amount of each transaction on individual items of the accounting equation. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign.)
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