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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 $21,000

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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 $21,000 cash. After those seven transactions, the ledger included the following accounts with normal balances. Cash $ 45,761 office supplies 880 Prepaid 5,200 insurance Office equipment 11,900 Accounts payable 11,900 Common Stock 21,000 Dividends 3,909 Engineering fees 43,000 earned Rent expense 8,250 The following seven transactions produced the account balances shown above. a. Y. Min invested $21.000 cash in the business in exchange for common stock. b. Pald $8,250 cash for monthly rent expense for May. c. Paid $5,200 cash in advance for the annual Insurance premium beginning the next period. d. Purchased office supplies for $880 cash. e. Purchased $11.900 of office equipment on credit (with accounts payable). 1. Received $43,000 cash for engineering services provided in May. g. The company paid a $3,909 cash dividend. 2. Prepare a Cash T-account for the above transaction, and compute the ending Cash balance. Code each entry with one of the transaction codes a through g. Cash 0 Beg. Bal. End. Bal

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