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Prepaid Insurance

Equipment

Van

Liabilities

Accounts Payable

Service Fees

Expenses

Rent Expense

Wages Expense

Phone Expense

Gas and Oil Expense

The following transactions occurred during May:

$($a$)$ Invested cash in the business, $$25,000.$

$($b$)$ Purchased a used van for cash, $$6,000.$

$($c$)$ Purchased equipment on account, $$4,000.$

$($d$)$ Received cash for services rendered, $$7,500.$

$($e$)$ Paid cash on account owed from transaction $($c$),$ $$2,300.$

$($f$)$ Paht rent for the month, $$850.$

$($g$)$ Paid phone bill, $$230.$

$($h$)$ Earned revenue on account, $$4,500.$

$($i$)$ Purchased office supplies for cash, $$160.$

$($j$)$ Paid wages to an assistant, $$800.$

$($k$)$ Purchased a one$-$year insurance policy, $$1,100.$

$($I$)$ Received cash from services performed in transaction $($h$),$ $$3,400.$

$($m$)$ Paid cash for gas and oil expense on the van, $$155.$

$($n$)$ Purchased additional equipment for $$4,200,$ paying $$1,500$ cash and spreading the remaining payments over the next

$($o$)$ Earned service fees for the remainder of the month of $$3,500$:$$1,900$ in cash and $$1,600$ on account.

$($p$)$ Withdrew cash at the end of the month, $$2,900.$