Reference Debit Credit 70,000 70,000 350 350 51,000 12,000 63,000 3,300 Date Accounts and Explanation May 1 Cash Common Stock Issued common stock in exchange for cash. May 2 Office Supplies Accounts Payable Purchased office supplies on account. May 4 Building Land Cash Paid cash for building and land. May 6 Cash Service Revenue Performed services and received cash. May 9 Accounts Payable Cash Paid cash on account May 17 Accounts Receivable Service Revenue Performed services on account. May 19 Rent Expense Cash Paid cash expenses May 20 Cash Unearned Revenue 3,300 100 100 3,200 3,200 600 600 1,100 1,100 The following transactions occurred for Webb Technology Solutions: i (Click the icon to view the transactions.) (Click the icon to view the journal entries.) Read the requirement. L. More Info May 1: The business received cash of $70,000 and issued common stock to Zeke Webb. CASH Account No. 110 May 1 Balance Date Item Post. Ref. Debit Credit Debit Credit May 2 May 4 May 1 COMMON STOCK Account No. 310 May 6 May 9 May 17 May 19 May 20 The business received cash of $70,000 and issued common stock to Zeke Webb Purchased office supplies on account, $350. Paid $63,000 cash for building and land. The building had a fair market value of $51,000. Performed services for customers and received cash, $3,300. Paid $100 on accounts payable. Performed services for customers on account, $3,200. Paid rent expense for the month, $600. Received $1,100 from customers for services to be performed next month. Paid $800 for advertising in next month's IT Technology magazine Received $2,600 cash on account from a customer. Incurred and paid salaries, $1,700. Balance Date Item Post. Ref. Debit Credit Debit Credit May 1 May 21 May 23 May 31 Print Done Reference Debit Credit 70,000 70,000 350 350 51,000 12,000 63,000 3,300 Date Accounts and Explanation May 1 Cash Common Stock Issued common stock in exchange for cash. May 2 Office Supplies Accounts Payable Purchased office supplies on account. May 4 Building Land Cash Paid cash for building and land. May 6 Cash Service Revenue Performed services and received cash. May 9 Accounts Payable Cash Paid cash on account May 17 Accounts Receivable Service Revenue Performed services on account. May 19 Rent Expense Cash Paid cash expenses May 20 Cash Unearned Revenue 3,300 100 100 3,200 3,200 600 600 1,100 1,100 The following transactions occurred for Webb Technology Solutions: i (Click the icon to view the transactions.) (Click the icon to view the journal entries.) Read the requirement. L. More Info May 1: The business received cash of $70,000 and issued common stock to Zeke Webb. CASH Account No. 110 May 1 Balance Date Item Post. Ref. Debit Credit Debit Credit May 2 May 4 May 1 COMMON STOCK Account No. 310 May 6 May 9 May 17 May 19 May 20 The business received cash of $70,000 and issued common stock to Zeke Webb Purchased office supplies on account, $350. Paid $63,000 cash for building and land. The building had a fair market value of $51,000. Performed services for customers and received cash, $3,300. Paid $100 on accounts payable. Performed services for customers on account, $3,200. Paid rent expense for the month, $600. Received $1,100 from customers for services to be performed next month. Paid $800 for advertising in next month's IT Technology magazine Received $2,600 cash on account from a customer. Incurred and paid salaries, $1,700. Balance Date Item Post. Ref. Debit Credit Debit Credit May 1 May 21 May 23 May 31 Print Done