Required information Problem 1-7A Analyzing transactions and preparing financial statements LO P1, P2 [The following information applies to the questions displayed below] Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations May 1 G. Gram invested $44,500 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,200 cash for May's rent. 3 The company purchased $1,910 of office equipment on credit. 5 The company paid $500 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,100 cash. 12 The company provided $2,700 of consulting services for a client on credit. 15 The company paid $740 cash for an assistant's salary for the first half of this month. 20 The company received $2,700 cash payment for the services provided on May 12, 22 The company provided $3,200 of consulting services on credit. 25 The company received $3,200 cash payment for the services provided on May 22. 26 The company paid $1,910 cash for the office equipment purchased on May 3. 27 The company purchased $85 of office equipment on credit. 28 The company paid $740 cash for an assistant's salary for the second half of this month. 30 The company paid $300 cash for this month's telephone bill. 30 The company paid $250 cash for this month's utilities. 31 The company paid $1,500 cash in dividends to the owner (sole shareholder). Next >