Welch & Associates, Inc., completed the following transactions during April $2018,$ its first month of operations:

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

Requirement

Using the steps outlined in the five$-$step transaction analysis, journalize the transactions of Welch& Associates, Inc. List transactions by date. Use the following accounts: Cash, Accounts receivable, Supplies, Building, Accounts payable, Common stock, Service revenue, Salaries expense, and Rent expense.

$($Record debits first, then credits. Select the explanation on the last line of the journal entry table.$)$

Apr $1$: Sold $$60,000$ of common stock to Katie Welch to start the business.

$\backslash$table$[[$Journal Entry,Debit,Credit$],[$Date$,$Accounts and Explanations,,$],[$Apr$,,,],[,,,],[,,,],[,,,]]$