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assignment, Financial Accounting

Assignment Help:
1- Journalize May transactions.

Entry:
1. May 1 Owner H.Hadi invested $40,000 in the business.
2. May 4 Equipment was purchased at a cost of $7,000; a three-month, 10% note payable was signed for this amount.
3. May 5 Paid a supplier $1,500 cash on account.
4. May 8 Paid $1,800 in cash to Palmero Company for may rent.
5. May 10 Purchased suppliers for $2,500 cash. The supplies are expected to last through july.
6. May 14 Paid $300 cash to the daily News for advertisements run this past week.
7. May 16 Billed customers $8,000 for services rendered.
8. May 19 Received $5,000 from customers for services rendered during this week.
9. May 25 Additional supplies were purchased on account at a cost of $800 from Superior Supplies Company. These supplies will be used during June.
10. May 26 Received $11,000 from customers for services to be rendered early in June.
11. May 27 Paid the weekly News $300 for an advertisement that will run the first week in June.
12. May 28 Received $4,000 on account.
13. May 30 Owner H.Hadi withdrew $500 for personal use.
14. May 30 K. Minor,H. Hadi''s administrative assistant, was paid $1,800 cash for here salary.

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