m 1-7A (Algo) Analyzing transactions and preparing financial statements LUPI "lowing information applies to the questions displayed below.] am started The Gram Company, a new business that began operations on May 1. The Gram owing transactions during its first month of operations. G. Gram invested $42,500 cash in the company. The company rented a furnished office and paid $2,500 cash for May's rent. The company purchased $1,850 of equipment on credit. The company paid $790 cash for this month's cleaning services. The company provided consulting services for a client and immediately collected $5,200 C The company provided $2,500 of consulting services for a client on credit. The company paid $770 cash for an assistant's salary for the first half of this month. The company received $2,500 cash payment for the services provided on May 12. The company provided $4,000 of consulting services on credit. The company received $4,000 cash payment for the services provided on May 22. The company paid $1,850 cash for the equipment purchased on May 3. The company purchased $75 of equipment on credit. The company paid $770 cash for an assistant's salary for the second half of this month. The company paid $400 cash for this month's telephone bill. The company paid $280 .cash for this month's utilities. G. Gram withdrew $1,900 cash from the company for personal use. Check my work Equipment Accounts Payable + G. Gram, Withdrawals + Revenues- G. Gram, Capital $ 42,500 Accounts for Expenses Expenses + = + + + + + + + + + + + + II + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + 0 0 $ $ S 42 500 0 0 S S $ + + = 1