1) (20 pts) Given below are the daily balances in the accounts of Superior Company. Given the transaction for each day in May, explain what the company did that day. Accounts Accounts Owners Equity S625 $5,250 5,250 5,250 5,250 5,625 5,625 Day Cash Receivable Inventory Equipment Payable Apr.30 $1,250 May 1 1,250 May 2 1,400 May 3 1,225 May 4 1,600 5500 500 350 350 350 $1,125 1,325 1,325 1,325 1,325 $3,000 3,000 3,000 3,000 3,000 825 825 650 650 May 5 1.375 3501,3253,5751,000 5.625