Question: Cornerstone Exercise 2-25 (Algorithmic) Journalize Transactions Four transactions that occurred during May are listed below. a. May 5: Borrowed cash of $17,800 from Middle State

Cornerstone Exercise 2-25 (Algorithmic) Journalize Transactions Four transactions that occurred during

Cornerstone Exercise 2-25 (Algorithmic) Journalize Transactions Four transactions that occurred during May are listed below. a. May 5: Borrowed cash of $17,800 from Middle State Bank. b. May 10: Made cash sales of $14,500 to customers. C. May 19: Paid salaries of $8,600 to employees for services performed. d. May 22: Purchased and used $4,600 of supplies in operations of the business. Required: Prepare journal entries for the transactions. May 5 (Record borrowing of cash from bank) (Record cash sale) (Record payment of salaries) (Record purchase of supplies) (Record use of supplies)

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