Julia Dumars is a licensed CPA. During the first month of operations of her business, Novak Corp., the following events and transactions occurred. May 1 2 3 7 11 Stockholders invested $ 21,400 cash in exchange for common stock. Hired a secretary-receptionist at a salary of $ 2,500 per month. Purchased $ 1,700 of supplies on account from Vincent Supply Company. Paid office rent of $ 750 cash for the month. Completed a tax assignment and billed client $ 2,900 for services performed. Received $ 2,800 advance on a management consulting engagement. Received cash of $ 1,800 for services performed for Orville Co. Paid secretary-receptionist $ 2,500 salary for the month. Paid 50% of balance due Vincent Supply Company. 12 17 31 31 Julia uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 311 Common Stock, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and No. 729 Rent Expense. Cash No. 1 Date Explanation Ret Debit Credit Balance V 11 31 31 > JI 11 >> 31 No. 1 Accounts Receivable Date Explanation Ret Debit Credit Balance > 1 No. Supplies Date Explanation Ret. Debit Credit Balance 31 No. : Accounts Payable Date Explanation Ret Debit Credit Balance Balance 11 31 No. Unearned Service Revenue Explanation Rel. Date Debit Credit Balance J1 No. Common Stock Date Explanation Ref. Debit Credit Balance > No. Service Revenue Date Explanation Ref. Debit Credit Balance J1 31 No. 7 Salaries and Wages Expense Date Explanation Rel. Debit Credit Balance 31 Rent Expense Date No. Balance Explanation Ret. Debit Credit JI Textbook and Media List of Accounts Selera Attempts of sused Submit