Kochi Services was formed on May 1, 2020. The following transactions took place during the first month (amounts in thousands).

Transactions on May 1:
1. Rahul Shah invested INR40,000 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 INR3,050 per month.
3. Signed a 2-year rental agreement on a warehouse; paid INR24,000 cash in advance for the first year.
4. Purchased furniture and equipment costing INR30,000. A cash payment of INR10,000 was made immediately; the remainder will be paid in 6 months.
5. Paid INR1,800 cash for a one-year insurance policy on the furniture and equipment.

Transactions during the remainder of the month:
6. Purchased basic office supplies for INR420 cash.
7. Purchased more office supplies for INR1,500 on account.
8. Total revenues earned were INR20,000—INR8,000 cash and INR12,000 on account.
9. Paid INR400 to suppliers for accounts payable due.
10. Received INR3,000 from customers in payment of accounts receivable.
11. Received utility bills in the amount of INR380, to be paid next month.
12. Paid the monthly salaries of the two employees, totaling INR6,100.

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, 2020.