Prepare the following: 1) Create T-accounts for the following: a. Cash - b. Accounts Receivable - c. Supplies - d. Equip

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Prepare the following:1) Create T-accounts for the following:a. Cash -b. Accounts Receivable -c. Supplies -d. Equipment -e. Accounts Payable -f. Notes Payable -g. Common Stock –h. Dividends –i. Revenue –j. Rent Expense –k. Advertising Expensel. Salaries & Wages Expense –m. Utilities Expense2) For each T-account:a. Identify the account as an Asset, Liability, Common Stock,Dividend, Revenue or Expenseb. Mark the Debit and the Credit as either a + or –3) Prepare properly
May
1
Stockholders invested $15,000 cash in the business in exchangefor common stock.
2
Paid $600 for office rent for the month.
3
Purchased $500 of supplies onaccount. – (AccountsReceivable OR Accounts Payable)
5
Paid $150 to advertise in the County News.
9
Received $1,400 cash for services performed.
12
Paid $200 cash dividend.
15
Performed $4,200 of services onaccount.
17
Paid $2,500 for employee salaries.
20
Paid for the supplies purchased onaccount on May 3.
23
Received a cash payment of $1,200 for servicesperformed on account onMay 15.
26
Borrowed $5,000 from the bank on a note payable.
29
30
Purchased office equipment for $2,000 paying $200 in cash andthe balance on account
Paid $180 for utilities