Julia Dumars is a licensed CPA. During the first month of operations of her business, Novak Corp., the following events and transactions occurred. May 1 2 3 7 11 Stockholders invested $21,400 cash in exchange for common stock. Hired a secretary-receptionist at a salary of $2,500 per month. Purchased $1.700 of supplies on account from Vincent Supply Company Paid office rent of $750 cash for the month. Completed a tax assignment and billed client $2,900 fr services performed. Received $2,800 advance on a management consulting engagement Received cash of $1,800 for services performed for Orville Co. Paid secretary-receptionist $2,500 salary for the month. Paid 50% of balance due Vincent Supply Company 12 17 31 31 Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No 209 Unearned Service Revenue, No 311 Common Stock, No 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Date Account Titles and Explanation Debit Credit May 1 21400 2140 May 2 No Entry No Entry No Entry May 3 1700 170 750 May 7 4 2900 May 11 4 290 2800 May 124 75 May 11 : 2900 290 May 12 : 2800 280 May 17 4 1800 180 May 31 2 2500 250 (Paid salaries) May 31 (Paid creditor on account)