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Required information (The following information applies to the questions displayed below.) Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations. May 1 G. Gram invested $41,500 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,500 cash for May's rent. 3 The company purchased $1,860 of office equipment on credit. 5 The company paid $730 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,300 cash. 12 The company provided $2,500 of consulting services for a client on credit. 15 The company paid $800 cash for an assistant's salary for the first half of this month. 20 The company received $2,500 cash payment for the services provided on May 12. 22 The company provided $3,800 of consulting services on credit. 25 The company received $3,800 cash payment for the services provided on May 22. 26 The company paid $1,860 cash for the office equipment purchased on May 3. 27 The company purchased $85 of office equipment on credit. 28 The company paid $800 cash for an assistant's salary for the second half of this month. 30 The company paid $350 cash for this month's telephone bill. 30 The company paid $250 cash for this month's utilities. 31 The company paid $1,900 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on individual items of the accounting equation. Do not determine new account balances after each transaction. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" if the transaction does not include an expense.) Answer is not complete. Assets Llabilities + Equity Date Cash Accounts Receivable Office Equipment Accounts Payable Common Stock Dividends Revenues Expenses Account Titles for Expenses May 1 + = + $ 41,500 - + $ + 41,500 (2,500) + 1 + + + 2,500 Rent 3 + 1,860- 1,860+ + 5 + + 730 Cleaning 8 + + + 5,300 - 12 2,500+ = + + + 2,500 (730) + 5,300 + + ( (800) + 2,500+ + 15 + + 800 Salary 20 = = + + + 22 (2,500) 3.800 + (3,800) () + + + 3,800 - + + 25 26 3,800 (1,860) + + + + E 85 - (1,860) 85+ 27 + + + 28 + = + + + + + + - - 30 30 800 Salary 350 Telephone 250 Utilities + + (800) + (350) + (250) + (1,900) + $ + 43,910 + 31 + 1,900 $ 0 + $ 1,945 $ 85 + $ 41,500 $ 1,900 + $ 11,600 $ 5,430 Required information (The following information applies to the questions displayed below.) Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations. May 1 G. Gram invested $41,500 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,500 cash for May's rent. 3 The company purchased $1,860 of office equipment on credit. 5 The company paid $730 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,300 cash. 12 The company provided $2,500 of consulting services for a client on credit. 15 The company paid $800 cash for an assistant's salary for the first half of this month. 20 The company received $2,500 cash payment for the services provided on May 12. 22 The company provided $3,800 of consulting services on credit. 25 The company received $3,800 cash payment for the services provided on May 22. 26 The company paid $1,860 cash for the office equipment purchased on May 3. 27 The company purchased $85 of office equipment on credit. 28 The company paid $800 cash for an assistant's salary for the second half of this month. 30 The company paid $350 cash for this month's telephone bill. 30 The company paid $250 cash for this month's utilities. 31 The company paid $1,900 cash in dividends to the owner (sole shareholder). Required: 1. Enter the amount of each transaction on individual items of the accounting equation. Do not determine new account balances after each transaction. (Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select "NA" if the transaction does not include an expense.) Answer is not complete. Assets Llabilities + Equity Date Cash Accounts Receivable Office Equipment Accounts Payable Common Stock Dividends Revenues Expenses Account Titles for Expenses May 1 + = + $ 41,500 - + $ + 41,500 (2,500) + 1 + + + 2,500 Rent 3 + 1,860- 1,860+ + 5 + + 730 Cleaning 8 + + + 5,300 - 12 2,500+ = + + + 2,500 (730) + 5,300 + + ( (800) + 2,500+ + 15 + + 800 Salary 20 = = + + + 22 (2,500) 3.800 + (3,800) () + + + 3,800 - + + 25 26 3,800 (1,860) + + + + E 85 - (1,860) 85+ 27 + + + 28 + = + + + + + + - - 30 30 800 Salary 350 Telephone 250 Utilities + + (800) + (350) + (250) + (1,900) + $ + 43,910 + 31 + 1,900 $ 0 + $ 1,945 $ 85 + $ 41,500 $ 1,900 + $ 11,600 $ 5,430