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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 $43,500 cash in the company in exchange for its common stock.

1

The company rented a furnished office and paid $2,400 cash for Mays rent..

3

The company purchased $1,890 of office equipment on credit.

5

The company paid $740 cash for this months cleaning services.

8

The company provided consulting services for a client and immediately collected $5,700 cash.

12

The company provided $2,700 of consulting services for a client on credit.

15

The company paid $750 cash for an assistants salary for the first half of this month.

20

The company received $2,700 cash payment for the services provided on May 12.

22

The company provided $3,100 of consulting services on credit.

25

The company received $3,100 cash payment for the services provided on May 22.

26

The company paid $1,890 cash for the office equipment purchased on May 3.

27

The company purchased $90 of advertising in this months (May) local paper on credit; cash payment is due June 1.

28

The company paid $750 cash for an assistants salary for the second half of this month.

30

The company paid $350 cash for this months telephone bill.

30

The company paid $280 cash for this months utilities.

31

The company paid $1,500 cash in dividends to the owner (sole shareholder).

Required:

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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