Prepare a form like Illustration 2-6 and then prepare general journal entries to record the following transactions. Omit the year in the journal date column.

May 1 Jeff Sims invested \(\$ 3,000\) in cash and antomobile having a \(\$ 15,000\) fair value in a real estate agency he called Sims Realty.

1 Rented furnished office space and paid two months' rent in advance, \(\$ 1,500\).

2 Purchased office supplies for cash, \(\$ 90\).

15 Sold a building lot for a client and collected a \(\$ 3,750\) commission on the sale.

31 Paid for gas and oil used in the agency car during May, \(\$ 60\).