Prepare the following: 1) Create T-accounts for the following: a. Cash - b. Accounts Receivable - c. Supplies - d. Equipment - e. Accounts Payable - f. Notes Payable - g. Common Stock h. Dividends i. Revenue j. Rent Expense k. Advertising Expense l. Salaries & Wages Expense m. Utilities Expense 2) For each T-account: a. Identify the account as an Asset, Liability, Common Stock, Dividend, Revenue or Expense b. Mark the Debit and the Credit as either a + or 3) Prepare properly

• formatted General Journal Entries with Explanations and Post to the T-accounts.

May	1	Stockholders invested $15,000 cash in the business in exchange for common stock.
	2	Paid $600 for office rent for the month.
	3	Purchased $500 of supplies on account. (Accounts Receivable OR Accounts Payable)
	5	Paid $150 to advertise in the County News.
	9	Received $1,400 cash for services performed.
	12	Paid $200 cash dividend.
	15	Performed $4,200 of services on account.
	17	Paid $2,500 for employee salaries.
	20	Paid for the supplies purchased on account on May 3.
	23	Received a cash payment of $1,200 for services performed on account on May 15.
	26	Borrowed $5,000 from the bank on a note payable.
	29 30	Purchased office equipment for $2,000 paying $200 in cash and the balance on account Paid $180 for utilities