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Helen H. Designs has the following accounts in its general ledger: Cash; Accounts Receivable; Supplies;...

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Accounting

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Helen H. Designs has the following accounts in its general ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Service Fees Earned; Rent Expense; and Salaries Expense. Prepare general journal entries (only general journal) to record the following transactions: May 1 Shareholders invested $330,000 cash in exchange for stock. 2 Paid May rent, $15,900. 4 Purchased office equipment for $27,000, paying $9,000 cash, with the balance due on account in 60 days. 5 Purchased supplies on account, $6,900. 12 Billed clients for services, $17,400. 18 Collected $11,400 on account from clients. 19 Paid $4,500 on account to suppliers. 26 Paid $27,000 cash dividends. 31 Paid salaries for May, $9,600." Transaction + Description Time: 18 min Debit Credit

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