On May 1, Shanky opened Shanky Repair Service, Inc. During the month of May the company completed
the following transactions.
May 1	Shanky invested $18,000 of his own cash in the business in exchange for all shares of common stock.
May 1	Paid the rent for the store for the current month in cash - $425.
May 1	Paid the premium on a one-year insurance policy - $1,560.
May 2	Purchased repair equipment from ABC Company for $4,200. The terms were $600
	down and $300 per month for one year. The first $300 payment is due on June 1.
May 5	Purchased repair supplies from the Tidwell Company on credit - $492.
May 8	Paid cash for an advertisement in the local newspaper - $70.
May 15	Earned cash repair revenue of $1,750 during the first two weeks of business.
May 21	Paid Tidwell company on account - $225.
May 31	Earned and received cash for repair services during second half of May - $975.
May 31	Declared and paid a cash dividend of $400.
	Create the following T- tables: Cash, Prepaid Insurance, Repair Supplies, Repair Equipment,
	Accumulated Depreciation - Repair Equipment, Accounts Payable, Income Taxes Payable,
	Common Stock, Retained Earnings, Repair Revenue, Store Rent Expense, Advertising
	Expense, Insurance Expense, Repair Supplies Expense, Depreciation Expense, and
	Income Tax Expense.