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

In E3.2.

1. Purchased equipment on account for $8,000.

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. Borrowed $20,000 from the bank.

6. Paid supplier for equipment 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 owed in transaction 3.

9. Declared and paid $500 of dividends to shareholders.

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

Instructions

Journalize the transactions.