Question 2 Bob Royce incorporated Royce Consulting, an accounting practice, on May 1, 2014. During the first month of operations, these events and transactions occurred. exchange for common stock of the corporation salary of $2,663 per month May 1 Stockholders invested $106,500 cash 2 Hired a secretary-receptionist at 3 Purchased $852 of supplies on account from Pickering Supply Company 7 Paid office rent of $1,491 for the month. 11 Completed a tax assignment and billed client $2,663 for services performed 12 Received $4,473 advance on a management consulting engagement. 17 Received cash of $3,515 for services completed for Wood man Co. 31 Paid secretary-receptionist $2,663 salary for the month 31 Paid 50% of balance due Pickering Supply Company The company uses the following chart of accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense. Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Date (Paid salaries) (Paid creditor on account) Post to the ledger T-accounts. (Post entries in the order of journal entries presented in the question.) Cash Accounts Receivable Supplies Accounts Payable Unearned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Rent Expense trial balance on May 31, 2014 Prepare ROYCE CONSULTING Trial Balance Debit Credit $