Required information Problem 1-7A (Static) 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. Gram invested $40,000 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 $1,890 of equipment on credit. May 5 The company paid $750 cash for this month's cleaning services. May 8 The company provided consulting services for a client and immediately collected $5,400 cash. May 12 The company provided $2,500 of consulting services for a client on credit. May 15 The company paid $750 cash for an assistant's salary for the first half of this month.. May 20 The company received $2,500 cash payment for the services provided on May 12, May 22 The company provided $3,200 of consulting services on credit. May 25 The company received $3,200 cash payment for the services provided on May 22. May 26 The company paid $1,890 cash for the equipment purchased on May 3. May 27 The company purchased $80 of equipment on credit. May 28 The company paid $750 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 $1,400 cash in dividends to the owner (sole shareholder). Required Information 1. Enter the amount of each transaction on individual items of the accounting equation. (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.) Assots Liablities Equity Accounts Date Cash Receivable Equipment Accounts Payable Common Stock Dividends Revenues Expenses Account Tiles for Expaness May 1 May 1 May 3 May 5 May 8 May 121 May 151 May 201 May 221 Cleaning NA Rent Salary Telephone Utilities May 25 May 26 May 27 . May 281 . May 30 May 30 May 30 . $ 0 $ 0+ $ 0 $ + $ + $ 0