Data for the Wong Computer Corporation were presented in E3-2.

E3-2

Wong Computer Corporation entered into these transactions during the month of May:

1. Purchased computers on account for $8,000 from Dell.

2. Paid $1,600 for rent for the month of May.

3. Provided computer services for $3,800 on account.

4. Paid Ontario Hydro $300 cash for utilities used in May.

5. Issued common shares to Li Wong in exchange for an additional $20,000 investment in the business.

6. Paid Dell for computers purchased in transaction 1.

7. Purchased a one-year accident insurance policy for $500 cash.

8. Received $3,000 cash in partial payment of the account in transaction 3.

9. Paid Li Wong a $500 dividend.

10. Paid income tax of $250 for the month.

Instructions

Journalize the transactions.