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 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 21400 Common Stock 214 May 2 No Entry No Entry May 3 Supilies 1,700 Accounts Payable May 7 Rent Expert 750 Cash May 11 Accounts Rochiivable 22900 Service Revenge 24 2 Cath May 11 Accounts Receivable 2,900 Service Revenue May 12 Cath 2.800 23 Unearned Service Revenue May 17 : Cash 1.800 18 Service Reven May 31 : Salaries and Wages Expense 2.500 Cash 2 (Paid salaries) May 31 850 Accounts Payable Cash (Pald 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 J1 J1 J1 J1 J1 No. 112 Accounts Receivable Date Explanation Ref Debit Credit Balance J1 Supplies No. 126 Date Explanation Ref. Debit Credit Balance 11 Supplies No. 126 Date Explanation Ref. Debit Credit Balance J1 No. 201 Accounts Payable Date Explanation Ref. Debit Credit Balance J1 31 No. 209 Unearned Service Revenue Explanation Date Ref. Debit Credit Balance 31 No. 311 Common Stock Date Explanation Ref. Debit Credit Balance 31 No. 400 Service Revenue Date Explanation Ref. Debit Credit Balance J1 J1 No. 400 Service Revenue Date Explanation Ref. Debit Credit Balance J1 J1 No. 726 Salaries and Wages Expense Date Explanation Ref. Debit Credit Balance J1 No. 729 Rent Expense Date Balance Explanation Ref. Debit Credit J1