Question

Holden Graham started The Graham Co., a new business that began operations on May 1. The Graham Co. completed the following transactions during its first month of operations. May 1 H. Graham invested $40,000 cash in the company in exchange for its common stock. 1 The company rented a furnished office and paid $2,300 cash for May's rent.. 3 The company purchased $1,900 of office equipment on credit. 5 The company paid $760 cash for this month's cleaning services. 8 The company provided consulting services for a client and immediately collected $5,200 cash. 12 The company provided $2,400 of consulting services for a client on credit. The company paid $770 cash for an assistant's salary for the first half of this 15 month. The company received $2,400 cash payment for the services provided on May 20 12. 22 The company provided $3,500 of consulting services on credit. 25 The company received $3,500 cash payment for the services provided on May 22. 26 The company paid $1,900 cash for the office equipment purchased on May 3. 27 The company purchased $80 of advertising in this month's (May) local paper on credit; cash payment is due June 1. 28 The company paid $770 cash for an assistant's salary for the second half of this month. 30 The company paid $350 cash for this month's telephone bill. 30 The company paid $260 cash for this month's utilities. 31 The company paid $1,700 cash in dividends to the owner (sole shareholder).