For each transaction,

(1) Analyze the transaction using the accounting equation,

(2) Record the transaction in journal entry form, and

(3) Post the entry using T-accounts to represent ledger accounts.

Use the following partial chart of accounts—account numbers in parentheses:
Cash (101); Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201); Unearned Landscaping Revenue (236); Common Stock (307); Dividends (319);
Landscaping Revenue (403); Wages Expense (601); and Landscaping Expense (696).

a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $7,000 in cash along with equipment having a $3,000 value in exchange for common stock.
On May 21, Elegant Lawns purchases office supplies on credit for $500.

b. On May 25, Elegant Lawns receives $4,000 cash for performing landscaping services.

c. On May 30, Elegant Lawns receives $1,000 cash in advance of providing landscaping services to a customer.