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Question a Carla Vista Computer Corporation had the following opening account balances at the end of April: Cash $5,000; Accounts Recelvable $5,600; Accounts Payable $2,200; Common Shares $4,500 the month of May Rtaned Earnings $3,900. It entered Into the following transactlons during Purchased equipment on account for $7,300 2. Paid $1,400 far rent for the month of May 3. Provided computer services for $3,900 on account. . Paid Ontario Hydro $200 cash for utilities used in May. 5. Borrowed $21,000 from the bank. . Paid supplier for equipment purchased in transactian 1. 7. Purchased a one-year accident insurance policy for s600 cash 8. Received $3,200 cash in partial payment of the account owed in transaction 3 9. Declared and paid $500 of dividends to shareholders. 10, Pald income tax of $260 for the month. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Da not indent manually. If no entry is required, select No Entry for the account titles and enter o for the amounts.)No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. i. 6. 7 8. 9 10

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ournal entries - Date Accounts Title & Explanation Debit $ Credit S 1XX-XX-XX Equipment 7,300 To Accounts Payable 7,300 2 XX-XX-XX Rent Expense 1,400 To Cash 1,400 3 XX-XX-XX Accounts Receivable 3,900 To Service Revenue 3,900 4 XX-XX-XX Utilities Expense 200 To Cash 200 5 XX-XX-XX Cash 21,000 To Loan Payable 21,000 6 XX-XX-XX Accounts Payable 7,300 To Cash 7,300 7 XX-XX-XX Prepaid Insurance 600 To Cash 600 8 XX-XX-XX Cash 3,200 To Accounts Receivable 3,200 9 XX-XX-XX Dividends 500 To Dividend Pavable 500 XX-xX-XX Dividend Payable 500 To Cash 500 10 XX-XX-XX Income tax expense 260 To Cash 260

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