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I would like to verify number 1 please and thanks! It is important that you understand debits and credits in this chapter. Choose ONE of

I would like to verify number 1 please and thanks!image text in transcribed

It is important that you understand debits and credits in this chapter. Choose ONE of the transactions below and show the Journal entry in good format with an explanation. Brady Company, a computer services company, entered into these transactions during May 2017, its first month of operations. 1. Stockholders invested $40,000 in the business in exchange for common stock of the company. 2.Purchased computers for office use (recorded as Equipment) for $30,000 from Ladd on account. 3.Paid $4,000 cash for May rent on storage space. 4. Performed computer services worth $19,000 on account. 5.Performed computer services for Wharton Construction Company for $5,000 cash. 6. Paid Western States Power Co. $8,000 cash for energy usage in May. 7. Paid Ladd for the computers purchased in (2). 8.Incurred advertising expense for May of $1,300 on account. 9.Received $12,000 cash from customers for contracts billed in (4). Explain which financial statements are affected by the journal entry you selected. 161 words

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