Transactions for Vaughn Company for the month of May are presented below. Prepare journal entries for each of these transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)\ May 1 B.D. Vaughn invests

$4,040

cash in exchange for common stock in Vaughn Company, a small welding corporation.\ 3 Buys equipment on account for

$1,141

.\ 13 Pays

$393

to landlord for May rent.\ 21 Bills Noble Corp.

$500

for welding work done.\ Date Account Titles and Explanation\ Debit\ Credit

Transactions for Vaughn Company for the month of May are presented below. Prepare journal entries for each of these transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) May 1 B.D. Vaughn invests $4,040 cash in exchange for common stock in Vaughn Company, a small welding corporation. 3 Buys equipment on account for $1,141. 13 Pays $393 to landlord for May rent. 21 Bills Noble Corp. $500 for welding work done