Maquoketa Services was formed on May 1, 2022. The following transactions took place during the first month.

Transactions on May 1:
1. Jay Bradford invested $40,000 cash in the company, as its sole owner.
2. Hired two employees to work in the warehouse. They will each be paid a salary of $3,050 per month.
3. Purchased equipment costing $30,000. A cash payment of $10,000 was made immediately; the remainder will be paid in 6 months.
4. Paid $1,800 cash for 6 months of insurance.
Transactions during the remainder of the month:
5. Paid $2,000 for rent for the month of May.
6. Purchased basic offi ce supplies for $420 cash.
7. Purchased more offi ce supplies for $1,500 on account.
8. Total revenues earned were $20,000—$8,000 cash and $12,000 on account.
9. Paid $400 to suppliers for accounts payable due.
10. Received $3,000 from customers in payment of accounts receivable.
11. Received utility bills in the amount of $380, to be paid next month.
12. Paid the monthly salaries of the two employees, totaling $6,100.

Instructions
a. Prepare journal entries to record each of the events listed. (Omit explanations.)
b. Post the journal entries to T-accounts.
c. Prepare a trial balance as of May 31, 2022.