Need help doing this problem. Required: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 e minus sign. Select "NA" for account titles if the transection does not include anexpense.)AssetsLiabilitiesEquityDateAccount TitlesAccountsReceivableAccountsPayableG. Gram,CapitalG. Gram,WithdrawalsCashEquipmentRevenuesExpenses for ExpensesMay 1Miay 1May 3May 5May 8May 12May 15May 20May 22May 25May 26May 27May 28May 30May 30May 31 Gabi Gram started The Gram Company, a new business that began operations on May 1. The Gram Company completedthe following transactions during its first month of operations.May 1 G. Gram invested $42,5ee cash in the company.May 1 The company rented a furnished office and paid $2,500 cash for May's rent.May 3 The company purchased $1,920 of equipnent on credit.May 5 The company paid $72e cash for this month's cleaning services.May 8 The company provided consulting services for a client and imnediately collected $5,600 cash.May 12 The company provided $2,600 of consulting services for a client on credit.May 15 The company paid $790 cash for an assistant's salary for the first helf of this month.May 20 The company received $2,600 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 $1,920 cash for the equipment purchased on May 3.May 27 The company purchased $90 of equipment on credit,May 28 The coepany paid $790 cash for an assistant's salary for the second half of this month.May 30 The company paid $350 cash for this month's telephone bill.May 30 The company paid $270 cash for this month's utilities.May 31 G. Gran withdrew $2,000 cash fron the company for personal use.

Accounting Principal is based on the fundamental principle of accounting which is the sum of assets…

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 $42,500 cash in the company. May 1 The company rented a furnished office and paid $2, see cash for Hay's rent. May 3 The company purchased $1,920 of equipnent 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 imnediately collected $5,600 cash. May 12 The company provided $2,600 of consulting services for a client on credit. May 15 The company paid $790 cash for an assistant's salary for the first half of this month. May 20 The company received $2,600 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 coepany paid $1,920 cash for the equipnent purchased on May 3. May 27 The company purchased $90 of equipnent on credit. May 28 The coepany paid $798 cash for an assistant's salary for the second half of this month. May 30 The company paid $350 cash for this nonth's telephone bill. May 30 The company paid $270 cash for this month's utilities May 31 G. Gran withdrew $2,000 cash fron the coepany for personal use.

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 12PB: Prepare journal entries to record the following transactions that occurred in March: A. on first day...