The following transactions occurred for Graham Technology Solutions:

I. $($Click the icon to view the transactions.$)$

$($Click the icon to view the journal entries.$)$

Read the requirement.

May $1$: The business received cash of $$120,000$ and issued common stock to Jason Graham.

CASH

$\backslash$table$[[$CASH$,$Item,Post. Ref.,Debit,Credit,Account No$.110],[$Balance$],[$Debit$,$Credit$],[$May $1,,,1=,,,\_]]$

COMMON STOCK