The following transactions occurred for ABC Company, Inc: May. 1 The business received cash of $100,000 and issued common stock to ABC Company. 2 5 Purchased office supplies on account, $500. Paid $60,000 cash for building and land. The building had a fair market value of $30,000. 6 9 17 19 20 next month. 21 magazine Performed services for a customers and received cash, $7,200 Paid $200 on accounts payable. Performed services for customers on account, $5,000. Paid rent expense for the month, $1,200. Received $1,500 from customers for services to be performed Paid $900 for advertising in next month's Marketing 23 31 Received $3,100 cash on account from a customer Incurred and paid salaries, $1,700.