Prepare journal entries for the following transactions:

May

1 Shareholders invested $15,000 in cash in the business in exchange for common shares

2 He paid $600 for office rent for the month

3 Bought $500 of supplies on account

5 Paid $150 to advertise in County News

9 Received $1,400 in cash for services rendered

12 Paid a cash dividend of $200

15 Made $4,200 of services on account

17 Paid $2500 for employee wages

20 Paid for supplies purchased on account on May 3

23 Received a cash payment of $1,200 for services rendered on account on May 15

26 Loans $5000 from the bank in a note payable

29 He bought office equipment for $2000 paying $200 in cash and the balance in account

30 Paid $180 for utilities