1 40 points Skipped Print Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31, 2023: May 1 Purchased new equipment, paying cash of $14,400 and signing a 90-day note payable for the balance of $36,000. 2 Purchased 12 months of insurance to begin May 2; paid $26,400. 3 Completed a fitness contract for a group of clients today and received $6,400. 4 Purchased office supplies on account; $3,950. 6 Returned to the supplier $790 of defective office supplies purchased on May 4. a client today on account; $11,900. 10 Provided services to 15 Paid for the May 4 purchase less the return of May 6.

20 Received payment from the client of May 10. 25 Received cash of $2,900 from a client for work to be done in June. 31 Paid month-end salaries of $51,000. 31 Paid the May telephone bill today; $2,450. 31 Received the May electrical bill today; $3,500. It will be paid on June 15. Required: Prepare journal entries for each of the above transactions. View transaction list No 12 View journal entry worksheet Date May 31, 2023 No Transaction Recorded General Journal Debit Credit

Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31 , 2023: May 1 Purchased new equipment, paying cash of $14,400 and signing a 90 -day note payable for the balance of $36,000. 2 Purchased 12 months of insurance to begin May 2 ; paid $26,400. 3 Completed a fitness contract for a group of clients today and received $6,400. 4 Purchased office supplies on account; $3,950. 6 Returned to the supplier $790 of defective office supplies purchased on May 4. 10 Provided services to a client today on account; $11,900. 15 Paid for the May 4 purchase less the return of May 6. 20 Received payment from the client of May 10. 25 Received cash of $2,900 from a client for work to be done in June. 31 Paid month-end salaries of $51,000. 31 Paid the May telephone bill today; $2,450. 31 Received the May electrical bill today; $3,500. It will be paid on June 15. Required: Prepare journal entries for each of the above transactions