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 for 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 Your answer is correct Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter "O" for the amounts.) Date Account Titles and Explanation Debit Credit May 1 Cash 21400 2140 Common Stock May 2 No Entry No Entry May 3 Supplies 1700 170 Accounts Payable 750 May 7 Rent Expense 775 Cash 2900 May 11 : Accounts Receivable Cash 75 May 11 4 Accounts Receivable 2900 Service Revenue 290 May 124 Cash 2800 Unearned Service Revenue 280 May 17 Cash 1800 Service Revenue 180 May 31 : Salaries and Wages Expense 2500 250 Cash (Paid salaries) 850 May 31 Accounts Payable 85 Cash (Paid creditor on account) Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous part.) Cash No. 101 Date Explanation Ref. Debit Credit Balance J1 11 21 ** J1 J1 J1 Accounts Receivable Date Explanation No. 112 Balance Ref Debit Credit 31 Supplies No. 126 Date Explanation Ref. Debit Credit Balance 31 No. 126 Supplies Date Explanation Ref. Debit Credit Balance 31 No. 201 Accounts Payable Date Explanation Ref. Debit Credit Balance J1 51 No. 209 Unearned Service Revenue Date Explanation Ref. Debit Credit Balance 31 Common Stock Date Explanation No. 311 Balance Ref. Debit Credit J1 No. 400 Service Revenue Date Explanation Ref. Debit Credit Balance 31 Date Explanation Ref. Debit Credit Balance J1 No. 311 Common Stock Date Explanation Ref. Debit Credit Balance J1 No. 400 Service Revenue Date Explanation Fef. Debit Credit Balance J1 J1 No. 726 Salaries and Wages Expense Date Explanation Ref. Debit Credit Balance J1 No. 729 Rent Expense Date Explanation Ref. Debit Credit Balance J1