Problem $1-7$A $($Algo$)$ Analyzing transactions and preparing financial statements LO P$1,$ P$2$

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$[$The following information applies to the questions displayed below.$]$

Gabi Gram started The Gram Company, a new business that began operations on May $1.$ The Gram Company completed the following transactions during its first month of operations.

May $1$ G$.$ Gram invested $$41,000$ cash in the company in exchange for its common stock.

May $1$ The company rented a furnished office and paid $$2,200$ cash for May$$s rent.

May $3$ The company purchased $$1,860$ of equipment on credit.

May $5$ The company paid $$720$ cash for this month$$s cleaning services.

May $8$ The company provided consulting services for a client and immediately collected $$6,000$ cash.

May $12$ The company provided $$2,700$ of consulting services for a client on credit.

May $15$ The company paid $$780$ cash for an assistant$$s salary for the first half of this month.

May $20$ The company received $$2,700$ cash payment for the services provided on May $12.$

May $22$ The company provided $$3,500$ of consulting services on credit.

May $25$ The company received $$3,500$ cash payment for the services provided on May $22.$

May $26$ The company paid $$1,860$ cash for the equipment purchased on May $3.$

May $27$ The company purchased $$85$ of equipment on credit.

May $28$ The company paid $$780$ cash for an assistant$$s salary for the second half of this month.

May $30$ The company paid $$300$ cash for this month$$s telephone bill.

May $30$ The company paid $$280$ cash for this month$$s utilities.

May $31$ The company paid $$1,800$ cash in dividends to the owner $($sole shareholder$).$

Problem $1-7$A $($Algo$)$ Part $1$

Required:

$1.$ Enter the amount of each transaction on individual items of the accounting equation.

Note: Enter the transactions in the given order. Enter reductions to account balances with a minus sign. Select $"$NA$"$ for account titles if the transaction does not include an expense.Required information

Problem $1-7$A $($Algo$)$ Analyzing transactions and preparing financial statements LO P$1,$ P$2$

$[$The following information applies to the questions displayed below.$]$

Gabi Gram started The Gram Company, a new business that began operations on May $1.$ The Gram Company completed

the following transactions during its first month of operations.

May $1$ G$.$ Gram invested $$41,000$ cash in the company in exchange for its common stock.

May $1$ The company rented a furnished office and paid $$2,200$ cash for May's rent.

May $3$ The company purchased $$1,860$ of equipment on credit.

May $5$ The company paid $$720$ cash for this month's cleaning services.

May $8$ The company provided consulting services for a client and immediately collected $$6,000$ cash.

May $12$ The company provided $$2,700$ of consulting services for a client on credit.

May $15$ The company paid $$780$ cash for an assistant's salary for the first half of this month.

May $20$ The company received $$2,700$ cash payment for the services provided on May $12.$

May $22$ The company provided $$3,500$ of consulting services on credit.

May $25$ The company received $$3,500$ cash payment for the services provided on May $22.$

May $26$ The company paid $$1,860$ cash for the equipment purchased on May $3.$

May $27$ The company purchased $$85$ of equipment on credit.

May $28$ The company paid $$780$ cash for an assistant's salary for the second half of this month.

May $30$ The company paid $$300$ cash for this month's telephone bill.

May $30$ The company paid $$280$ cash for this month's utilities.

May $31$ The company paid $$1,800$ cash in dividends to the owner $($sole shareholder$).$

Problem $1-7$A $($Algo$)$ Part $1$

Required:

Enter the amount of each transaction on individual items of the accounting equation.