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Transactions for May 1-May Pay payroll expense for the month of $12,000 3-May Pay Rent for month of $3,000 5-May Perform painting work for a



Transactions for May
1-May Pay payroll expense for the month of $12,000
3-May Pay Rent for month of $3,000
5-May Perform painting work for a customer and receive $10,000 cash
7-May Buy Computer Equipment on account for $8,500
8-May Collect $5,000 in cash from a customer for a prior month receivable
12-May Buy a year's worth of supplies on account for $3,500
15-May Sell shares of the company to investors for $50,000
20-May Pay off $3,000 of the computer assets purchased on May 7.
25-May Perform work for a customer for $10,000. the customer pays $6,000
and will pay the remainder next month.
28-May Buy a new truck for the business for $28,000, $5,000 down payment and
signing a note for the remainder.
Prepare Journals in the space below for the 10 transactions above
Date Account Name Debit Credit

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