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View Policies Current Attempt in Progress Julia Dumars is a licensed CPA. During the first month of operations of her business, Julia Dumars, Inc., the

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Current Attempt in Progress
Julia Dumars is a licensed CPA. During the first month of operations of her business, Julia Dumars, Inc., the following events and transactions occurred.
May 1 Stockholders invested $20,000 cash in exchange for common stock.
2 Hired a secretary-receptionist at a salary of $2,000 per month.
3 Purchased $1,500 of supplies on account from Vincent Supply Company.
7 Paid office rent of $900 cash for the month.
11 Completed a tax assignment and billed client $2,800 for services performed.
12 Received $3,500 advance on a management consulting engagement.
17 Received cash of $1,200 for services performed for Orville Co.
31 Paid secretary-receptionist $2,000 salary for the month.
31 Paid 40% of balance due Vincent Supply Company.
Julia uses the following chart of accounts: No.101 Cash, No.112 Accounts Receivable, No.126 Supplies, No.201 Accounts Payable, No.209 Unearned Service Revenue, No.311 Common Stock, No.400 Service Revenue, No.726 Salaries and Wages Expense, and No.729 Rent Expense.
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