Debra King started her own consulting firm, King Consulting Inc., on May 1, 2022. The following...

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Debra King started her own consulting firm, King Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 17 20 23 26 29 Stockholders invested $ 19,200 cash in the business in exchange for common stock. Paid $768 for office rent for the month. Purchased $ 640 of supplies on account. Paid $ 192 to advertise for the month in the County News. Performed services for customer for $ 1,792 cash. Paid $256 cash dividend. Performed $ 5,376 of services on account. Paid $3,200 for employee salaries. Paid for the supplies purchased on account on May 3. Received a cash payment of $ 1,536 for services performed on account on May 15. Borrowed $ 6,400 from the bank on a note payable. Purchased office equipment for $2,560 paying $ 256 in cash and the balance on account. villeime May 3 May 5 May 9 May 12 May 15 May 17 May 20 May 23 May 26 May 29 May 30 eivable Assets Supplies Equipment 1 Notes Payable KING CONSUL Liabilities Accr KING CONSULTING INC. Liabilities Accounts Payable Common Stock Revenues Stockholders Equity Retail Revenues Stockholders' Equity Retained Earnings Expenses Dividends I 47 A sh Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Date May 1 May 2 May 3 May 5 May 9 May 12 May 15 $ Cash Accounts Receivable Assets Supplies Equi Debra King started her own consulting firm, King Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 2 3 5 9 12 15 17 20 23 26 29 Stockholders invested $ 19,200 cash in the business in exchange for common stock. Paid $768 for office rent for the month. Purchased $ 640 of supplies on account. Paid $ 192 to advertise for the month in the County News. Performed services for customer for $ 1,792 cash. Paid $256 cash dividend. Performed $ 5,376 of services on account. Paid $3,200 for employee salaries. Paid for the supplies purchased on account on May 3. Received a cash payment of $ 1,536 for services performed on account on May 15. Borrowed $ 6,400 from the bank on a note payable. Purchased office equipment for $2,560 paying $ 256 in cash and the balance on account. villeime May 3 May 5 May 9 May 12 May 15 May 17 May 20 May 23 May 26 May 29 May 30 eivable Assets Supplies Equipment 1 Notes Payable KING CONSUL Liabilities Accr KING CONSULTING INC. Liabilities Accounts Payable Common Stock Revenues Stockholders Equity Retail Revenues Stockholders' Equity Retained Earnings Expenses Dividends I 47 A sh Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Date May 1 May 2 May 3 May 5 May 9 May 12 May 15 $ Cash Accounts Receivable Assets Supplies Equi

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