Welch & Associates, Inc., completed the folowing transactions during May 2018, Its first month of operations: Click the icon to view the transactions.) Requirement 1. Using the steps outlined in the five-step transaction analysis, journalize the transactions of Welch & Associates, Inc. List transactions by date. Use the following accoun: 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) May 1: Sold $95.000 of common stock to Katie Weich to start the business Journal Entry Accounts and Explanations Date Debit May 1 Choose from any list or enter any number in the input fields and then continue to the next question Anments/249780?module_item_id=503966 Gerardo 1 (CH1-4) Time Limit: 04:00:00 1 of 15 (7 complete) This Test: 1 Quest the following actions) More Info Late. Use the following accounts: se five-step trap 9. Accounts pel lect the explad Lock to Katie W Journe unts and Expl May 1 Sold $95.000 of common stock to Katie Welch to start the business. 3 Purchased supplies on account, $900. 5 Paid cash for a building to use for storage, $35,000 6 Performed service for customers and received cash $1,800 11 Paid on accounts payable, $850. 18 Performed service for customers on account 53.200 24 Received cash from a customer on account, $1,500 31 Paid the following expenses: salaries, $800, and rent, $1,300 Print Done number in the MacBook Pro