Question - The May transactions of Chulak Corporation were as follows.
May 4 -
Paid $700 due for supplies previously purchased on account.7
Performed advisory services on account for $6,800.8
Purchased supplies for $850 on account.9
Purchased equipment for $1,000 in cash.17
Paid employees $530 in cash.22
Received bill for equipment repairs of $900.29
Paid $1,200 for 12 months of insurance policy. Coverage begins June 1.
Required - Journalize the transactions.