ntertace Urw oe Phoenix. Appl. Ooogn Apple Ciud Ymo Goog, Facebook nment Help Save& Exit S The following equation shows the transactions of Cotton Cleaning Service during May. The business is owned by Taylor Cotton Accts. T.Cotton, Balancea, May Paid for utilities 4,500+ 2,500 +5,300+33,3006,500+49 ,570 + 4.930 2,500 + 5,300 + 33,300 6,500 + 49,100 + Sold services for cash Nev balances Paid a creditor k 4,930 18,500+2,500 +5,300 33,3006,500+49,100+ 4,930 16,650 4504 1OD 930 16,650 5,150+5,300 33,300- ,50. 49,100 7,580 -1.850 2,500 5,300 33, 300 2.650 Sold services on credit New balances Paid salaries New balances Paid telephone bi11 New ba Withdrew eash for personal expenses 2.500 New balances 8,650 ,000 5,150 5,300+33,300- 4,650. 49,100+ 7,580-,5 7,691 5,150+5,300+33,300-65049,17,580-, ,191+5,150 5,300+33,3004,650+46,600 +7,580,88 109 3,599 Required: Analyze each transaction carefully. Prepare an income statement and a statement of owner's equity for the month. Prepare a balanc sheet for May 31, 2019 Complete this question by entering your answers in the tabs below. Prev 1 of 2 Next >