PROBLEM 1 Graham Roofing Company, owned by R. Graham, began operations in May and completed the following transactions during the first month of operations. May 1 R. Graham Invested $90,000 cash in the company. May 2 The company purchased $25,000 in office equipment. It paid $10,000 in cash and signed a note payable promising to pay the $15,000 over the next three years. May 2 The company rented office space and paid $3,000 for the May rent. May 6 The company paid a supplier $7,300 for roofing materials to be used on the jobs in May. May 2 The company installed a new roof for a customer and immediately collected $5,000 May 8 The company purchased a $2,500 copy machine for office use on credit. May 9 The company completed work for additional customers on credit in the amount of $16,000 May 15 The company paid its employees' salaries of $2,300 for the first half of the month. May 17 The company installed a new roof for a customer and immediately collected $2,400 May 20 The company received $10,000 in payments from the customers billed on May 9 May 28 The company paid $1,500 on the copy machine purchased on May 8. It will pay the remaining balance in June May 31 The company paid its employees salaries of $2,400 for the second half of the month May 31 The company paid $450 for this month's utility bill REQUIRED 1. Prepare the journal entries for all the transactions in May 2. Post all the journal entries to the appropriate t-accounts. Compute the balance as of May 31 for each T-account 3. Prepare the unadjusted trial balance as of May 31 4. Use the templates attached to this exam to complete requirements 1 to 3 General Journal GENERAL JOURNAL Date Account Titles and Explanation P.R. Debit Credit Problem 1 GENERAL LEDGER Cash Accounts Receivable Credit Equipment Debit Credit Accounts Payable Debit Credit Debit Credit Debat Notes Payable Debit Credit R. Graham, Capital Debit Credit R Graham Withdrawals Debit Credi Service Revenue Debit Credit Materials are Debit C Renttupenie Debit Credit Sales De Crec Despre Debit here to search Unadjusted Trial Balance Debit Credit