Transactions for May
1-May	Pay payroll expense for the month of $12,000
3-May	Pay Rent for month of $3,000
5-May	Perform painting work for a customer and receive $10,000 cash
7-May	Buy Computer Equipment on account for $8,500
8-May	Collect $5,000 in cash from a customer for a prior month receivable
12-May	Buy a year's worth of supplies on account for $3,500
15-May	Sell shares of the company to investors for $50,000
20-May	Pay off $3,000 of the computer assets purchased on May 7.
25-May	Perform work for a customer for $10,000. the customer pays $6,000
	and will pay the remainder next month.
28-May	Buy a new truck for the business for $28,000, $5,000 down payment and
	signing a note for the remainder.
Prepare Journals in the space below for the 10 transactions above
Date			Account Name	Debit	Credit

Answer rating: 100% (QA)

Date Account Name Debit Credit 1May Payroll Expense 12000 Cash 12... View the full answer