Required information Problem 1-7A (Algo) Analyzing transactions and preparing financial statements LO P1, P2 [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. Gran invested 542,000 cash in the company in exchange for its common stock. May 1 The company rented a furnished office and paid $2,400 cash for May's rent. May > The company purchased $1,950 of equipment on credit May 5. The company paid $740 cash for this month's cleaning services Hay & The company provided consulting services for client and needetely collected $5.600 cash May 12 The company provided $2,000 of consulting services for client on credit. may 15 The company paid 5740 cash for an assistant's salary for the first half of this month Mey 20 The company received $2,000 cash payment for the services provided on May 12 May 22 The company provided $3,400 of consulting services on credit May 25 The company received 51,400 cash payment for the services provided on May 22 May 26 The company paid $1,930 cash for the equipment purchased on May 3. May 27 The company purchased 505 of equipment on credit. May 20 The company paid $740 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 $360 cash for this month's utilities May 31 The company paid $1.500 cosh Le dividends to the owner (sole shareholder). Problem 1-7A (Algo) Part 1 8 Roma Problem 1-7A (Algo) Part 1 171 Required: 1. Conter the amount of each transaction on individ of courting equation that in the given order Enter reductions to account balances with a minus sign Select a forcode the code onde expense) 0 - Mas May - + . May . + . + wwy 11 Mer . - + - + - wy May My