Wickers Restoration Services had the following transactions on May. 1. Received \( \$ 48,000 \) from sale of common stock. 2. Paid rent on office for the month, \( \$ 880 \). 3. Purchased supplies on account, \( \$ 1,750 \). 4. Earned fees, receiving cash, \( \$ 12,600 \). 5. Paid creditor on account, \( \$ 1,000 \). 6. Paid automobile expenses for month, \( \$ 375 \), and miscellaneous expenses, \( \$ 250 \). 7. Paid office salaries for the month, \( \$ 3,900 \). 8. Earned fees that the customer will pay next month, \( \$ 2,400 \). 9. Determined that the cost of supplies used was \( \$ 280 \). 10. Paid dividends, \( \$ 2,400 \). a. Prepare the journal entries for the above transactions on May. If an amount box does not require an entry, leave is blank. 1. 2. ?

Here are the journal entries for Wickers Restoration Services for May: 1. **Received \$48,000 from sale of common stock.** ``` Debit: Cash $48,000 Credit: Common Stock $48,000 ``` 2. **Paid rent on office for the month, \$880.** ``` Debit: Rent Expense $880 Credit: Cash $880 ``` 3. **Purchased supplies on account, \$1,750.** ``` Debit: Supplies $1,750 Credit: Accounts Payable $1,750 ``` 4. **Earned fees, receiving cash, \$12,600.** ``` Debit: Cash $12,600 Credit: Service Revenue $12,600 ``` 5. **Paid creditor on account, \$1,000.** ``` Debit: Accounts Payable $1,000 Credit: Cash $1,000 ``` 6. **Paid automobile expenses for month, \$375, and miscellaneous expenses, \$250.** ``` Debit: Automobile Expense $375 Debit: Miscellaneous Expense $250 Credit: Cash $625 ``` 7. **Paid office salaries for the month, \$3,900.** ``` Debit: Salaries Expense $3,900 Credit: Cash $3,900 ``` 8. **Earned fees that the customer will pay next month, \$2,400.** ``` Debit: Accounts Receivable $2,400 Credit: Service Revenue $2,400 ``` 9. **Determined that the cost of supplies used was \$280.** ``` Debit: Supplies Expense $280 Credit: Supplies $280 ``` 10. **Paid dividends, \$2,400.** ``` Debit: Dividends $2,400 Credit: Cash $2,400 ``` **Notes:** - Each entry maintains the accounting equation by ensuring that debits equal credits. - Accounts like Cash, Common Stock, Rent Expense, Supplies, Accounts Payable, Service Revenue, Accounts Receivable, Salaries Expense, Automobile Expense, Miscellaneous Expense, Supplies Expense, and Dividends are appropriately debited and credited based on the nature of each transaction.