The following transactions occurred for Graham Technology Solutions: (Click the icon to view the transactions.) Read the requirement. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1: The business received cash of $75,000 and issued common stock to Zach Graham. Date Accounts and Explanation Debit May 1 Credit * More Info May Collected cash for future services. Issued common stock in exchange for cash. Paid advertising in advance. Paid cash expenses. Paid cash for building and land. Paid cash on account. Performed services and received cash. Performed services on account. Purchased office supplies on account. Received cash on account. 1 The business received cash of $75,000 and issued common stock to Zach Graham 2 Purchased office supplies on account, $350. 4 Paid $52,000 cash for building and land. The building had a fair market value of $42,000. 6 Performed services for customers and received cash, $3,300. 9 Paid $150 on accounts payable. 17 Performed services for customers on account, $2,800. 19 Paid rent expense for the month, $800. 20 Received $1,500 from customers for services to be performed next month. 21 Paid $200 for advertising in next month's IT Technology magazine. 23 Received $2,000 cash on account from a customer. 31 Incurred and paid salaries, $1,100. Print Done Journalize the transactions of Graham Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Prepaid Advertising; Building, Land; Accounts Payable; Unearned Revenue; Common Stock; Service Revenue; Rent Expense; and Salaries Expense. Print Done