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Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $

Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which included his initial investment of $21,500 cash. After those seven transactions, the ledger included the following accounts with normal balances.
Cash $ 42,232
Office supplies 1,000
Prepaid insurance 4,100
Office equipment 14,900
Accounts payable 14,900
Common stock 21,500
Dividends 3,248
Services revenue 38,000
Rent expense 8,920
Problem 2-6A (Algo) Part 2
The following seven transactions produced the account balances shown above.
Y. Min invested $21,500 cash in the business in exchange for common stock.
Paid $8,920 cash for monthly rent expense for May.
Paid $4,100 cash in advance for the annual insurance premium beginning the next period.
Purchased office supplies for $1,000 cash.
Purchased $14,900 of office equipment on credit (with accounts payable).
Received $38,000 cash for services provided in May.
The company paid a $3,248 cash dividend.
2. Prepare a Cash T-account for the above transactions, and compute the ending Cash balance. Code each entry with one of the transaction codes a through g.

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