Question 5 The following transactions were carried out during the month of May by Hagen and Associates, a firm of design architects. For each of the five transactions, state whether the transaction represented revenue to the firm during the month of May. a. A firm received $300,000 cash by issuing adNitional shares of capital stock b. Collected cash of $25,000 from an account receivable. The receivable originated in April from services rendered to a client. c. Borrowed $60,000 from Century Bank to be repaid in three months. d. Eamed \$250 interest on a company savings account daning the month of May. No withdrawals were made from this account in May. e. Completed plans for a guesthouse, pool, and spa for a client. The $7,000 fee for this project was billed to the elient in May but will not be collected until June 25. Question 6 During March, the activities of Evergeen Landscaping included the following transactions and events, among others. Which of these items represenled expenses in March? a. Purchased a copying machine for $3,300 b. Paid $192 for gasoline purchases for a delivery truck during March. c. Paid \$2,736 salary to an cmployec for the time worked during March. d. Paid an attomey $672 for local services rendered in January. c. Declared and paid a $2,160 dividend to shareholders. Question 7 A number of transactions of Claypool Construction are described as follows in terms of accounts debited and credited. 1. Debit Wages Expense; credit Wages Payable. 2. Debit Accounts Receivable; credit Construction Revenue. 3. Debit Dividends; credit Cash. 4. Debit OFice Supplies; credit Accounts Payable