Dr. Schekter, DVM, opened a veterinary clinic on May 1, 2023. Business transactions for May are shown as follows: a) On May 1, 2023, Dr. Schekter invested $480,000 cash in the business in exchange for 6,000 shares of capital stock. b) On May 4, 2023, land and a building were purchased for $300,000. Of this amount, $84,000 applied to the land, and $216,000 to the building. A cash payment of $120,000 was made at the time of the purchase, and a note payable was issued for the remaining balance. c) On May 24, 2023, Dr. Schekter billed clients $2,640 for services rendered. Of this amount, $2,280 was received in cash, and $360 was billed on account (due in 30 days). d) On May 31, 2023, the clinic paid employees $3,360 for salaries earned in May. For each transaction (a-d), 1. Provide the necessary T-Accounts (with final balances) to document the transaction from the business' perspective. 2. Provide the individual Journal Entries to record the transactions.

Dr. Schekter, DVM, opened a veterinary clinic on May 1, 2023. Business transactions for May are shown as follows: a) On May 1, 2023, Dr. Schekter invested $480,000 cash in the business in exchange for 6,000 shares of capital stock. b) On May 4, 2023, land and a building were purchased for $300,000. Of this amount, $84,000 applied to the land, and $216,000 to the building. A cash payment of $120,000 was made at the time of the purchase, and a note payable was issued for the remaining balance. c) On May 24, 2023, Dr. Schekter billed clients $2,640 for services rendered. Of this amount, $2,280 was received in cash, and $360 was billed on account (due in 30 days). d) On May 31,2023 , the clinic paid employees $3,360 for salaries earned in May. For each transaction (a-d), 1. Provide the necessary T-Accounts (with final balances) to document the transaction from the business' perspective. 2. Provide the individual Journal Entries to record the transactions