New Balance Spa engaged in the following transactions during March 20X3, its first month of operations: Mar. 1 Joy Liebermann invested $55,000 of cash to start the business. 2 Purchased office supplies of $200 on account. 4 Paid $40,000 cash for a building to use as an office in the very near future. 6 Performed service for customers and received cash, $3,000. 9 Paid $100 on accounts payable. 17 Performed service for customers on account, $1,600. 23 Received $1,200 cash from a customer on account. 31 Paid the following expenses: salary, $1,200; rent, $500. Required Record the preceding transactions in the journal of New Balance Spa. Key transactions by date and include an explanation for each entry, as illustrated in the chapter. Use the following accounts: Cash; Accounts Receivable; Ofhce Supplies; Building; Accounts Payable; Joy Liebermann, Capital; Service Revenue; Salary Expense; Rent Expense.