Required information Problem 1.7A (Static) Analyzing transactions and preparing financial statements LO P1, P2 [The following information applies to the questions displayed below] Gabi Gram started The Gram Company, a new business that began operations on May 1. The Gram Company completed the following transactions during its first month of operations. May 1 6. Gran Invested 540,000 cash in the coepany in exchange for its capoon stock. May 1 The company rented a furnished office and paid $2,209 cash for hoy's rent. Ming 3 the conpany purchased $1,890 of equipent on credit. May 5 The compony paid $750 cash for this month's cleaning services. May s the company provided consulting services for a elient and itaedlately collected s5, 400 cash. May 12 The conpany provided $2, See of consulting services for a clitent on credit. May 15 The company paid \$7se cash for an assistant's salary for the first half of this month. May 20 . The company received \$2,\$ee cash payment for the services provided on 10y12. Mny 22 The conpany provided $3,200 of consulting services on ceedit. May 25 The company recelved $3,200 cash payment for the services provided on May 22. May 26 The company poid $1,890 cash for the equipent purchosed on Hay 3. May 27 The compeny purchased $30 of equipment on credit. May, 28 The company paid $750 cash for an assistant's salary for the second half of this month. Hay 30 The company pald $300 cash for thls month's telephone bill. May 30 the coepany paid $280 cash for this month's utilities. May 31 The company paid $1,460 cash in dividends to the ouner (sole shareboldec). Problem 1-7A (Static) Part 1 Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter the transactions in the given order. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" for account titles if the tronsaction does not include an expense.)