Required information [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 G. Gram invested $41,500 cash in the company in exchange for its common stock. May 1 The company rented a furnished office and paid $2,300 cash for May's rent. May 3 The company purchased $1,920 of equipment on credit. May 5 The company paid $760 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,900 cash. May 12 The company provided $2,800 of consulting services for a client on credit. May 15 The company paid $740 cash for an assistant's salary for the first half of this month. May 20 The company received $2,800 cash payment for the services provided on May 12. May 22 The company provided $3,800 of consulting services on credit. May 25 The company received $3,800 cash payment for the services provided on May 22. May 26 The company paid $1,920 cash for the equipment purchased on May 3. May 27 The company purchased $75 of equipment on credit. May 28 The company paid $740 cash for an assistant's salary for the second half of this month. May 30 The company paid $400 cash for this month's telephone bill. May 30 The company paid $290 cash for this month's utilities. May 31 The company paid $1,500 cash in dividends to the owner (sole shareholder). 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 transaction does not include an expense.) Assets Date Cash Accounts Receivable + Equipment = Liabilities Accounts Payable Equity Common Stock Dividends + Revenues Account Titles Expenses for Expenses May 1 $41,500 + + $ 41,500 + May 1 (2,300) + + + May 3 + + 1,920 = 1,920 + May 5 (760) + = + + - + NA (2,300) Rent NA (760) Cleaning May 8 5,900 + = + + 5,900 Salary May 12 + 3,800+ + + 3,800 Salary May 15 (740) + + (740) NA May 20 2,800 + (2,800) + + + Salary May 22 + 3,800+ = + + 3,800 Salary May 25 3,800+ (3,800) + = + + Salary May 26 (1,920) + + = (1,920) + + NA May 27 + + 75 = 75 + + NA May 28 + = + + May 30 + = + May 30 + = + + + May 31 = + + $48,280 + $ 1,000 + $ 1,995 = 75 + $ 41,500 $ 0 + $13,500 $ (3,800)