Required information Problem 1-7A Analyzing transactions and preparing financial statements LO P1, P2 The following information applies to the questions displayed below) Gabl Gram started The Gram Co, a new business that began operations on May t. The Gram Co.completed the following transactions during its first month of operations. May 10. Gran invested $44,500 cash in the company in exchange for its common stock 1 The company rented a furnished office and paid $2,200 cash for May's rent. The company purchased $1,910 of office equipment on credit 5 The company paid $800 cash for the month a cleaning services The company provided consulting services for client and radiately collected $5,400 canh 15 The company paid $750 cash for an anelstante salary for the first half of this month. 20 The company received $2,900 cash payment for the services provided on May 12. 25 The company received $9.900 h payment for the services provided on May 22. the company provided $3.900 of conuiting service on credit 26 The company paid $1,930 enth for the office equipment purchased on May 3. 28 The company paid $750 ch for an assistant salary for the second half of this month. 10 The company paid $350 cth for this month's telephone ball 30 The company paid $270 cash for this month's utilities 31 The company paid $3,000 cash in dividende to the owner lo share older). Problem 1-7A Part 1 1. the amount of each transaction on Individuals of the accounting eation. Do not determine new account balances after och transaction (Enter the transactions in the glven order. Enter reductions to account balances with a minus sign. Select "NAI the transaction does not include an expense.) Equity Account De Element Accounts Common face Odde Expert Account Prey 1 of 2 Next > MacBook Pro 4 go 13 288 701 00 FF &: :& NO al A 2 $ 4 3 % 5 6 & 7 ) O 8 9 W ER T Y U I OP 4 S D F G H J Z C1V B N. M MacBook Pro le DO 30 3: 288 PE 11 oh Pe 78 ) + @ 2 # 3 $ 4 % 5