Problem 3-2A (Part Level Submission)

Nona Curry started her own consulting firm, Tamarisk, Inc., on May 1, 2017. The following transactions occurred during the month of May.

May 1		Stockholders invested $18,675 cash in the business in exchange for common stock.
2		Paid $747 for office rent for the month.
3		Purchased $622 of supplies on account.
5		Paid $187 to advertise in the County News.
9		Received $1,743 cash for services performed.
12		Paid $249 cash dividend.
15		Performed $5,229 of services on account.
17		Paid $3,112 for employee salaries.
20		Paid for the supplies purchased on account on May 3.
23		Received a cash payment of $1,494 for services performed on account on May 15.
26		Borrowed $6,225 from the bank on a note payable.
29		Purchased office equipment for $2,490 paying $249 in cash and the balance on account.
30		Paid $224 for utilities.

(a)

	Your answer is partially correct. Try again.

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. (If a transaction causes 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. See Illustration 3-3 for example.)