Transactions for Mehta Company for the month of May are presented below. Prepare journal entries for each of these transactions. (You may omit explanations.)
May 1 B. D. Mehta invests $4,000 cash in exchange for common stock in a small welding corporation.
3 Buys equipment on account for $1,100.
13 Pays $400 to landlord for May rent.
21 Bills Noble Corp. $500 for welding work done.

                                  MEHTA COMPANY

Date      Account Titles and Explanation         Debit         Credit

1-May     Cash                                                      $4,000

                    Common stock                                                 $4,000

              (To record capital investment)

Date      Account Titles and Explanation         Debit         Credit

3 May     Equipment                                            $1,100

                    Account payable                                               $1,100

               (To record the purchase of equipment on account)

Date      Account Titles and Explanation         Debit         Credit

13 May   Rent expenses                                      $400

                   Cash                                                                    $400

               (To record rent expenses)

Date      Account Titles and Explanation         Debit         Credit

21 May    Account receivable                              $500

                      Service revenue                                               $500

                (To record service revenue)

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

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