1. John Delivery Service is owned and operated by John. The following selected transactions were completed by John Delivery Service during March. Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's Equity, Revenue, and Expense) by listing the numbers identifying the transactions, (A) through (E). Also, indicate the specific item within the accounting equation element that is affected. A. Received supplies inventory from owner as additional investment, $20,000 B. Received cash from customers on account, $16,680. C. Paid cash for equipment bought last month, $12,800. D. Sold merchandise on account, $150,000 E. Customers pay $5,000 they owe the company (15 percent) 2. During May, Jone Consulting entered into the following transactions, Journalize entries for them. (30 percent) May. 1. The following assets were received from the owner---Jone Pitney: cash $20,000; inventory $15.000; and office equipment $6,500. 2. Paid rent for next three months $3,000 4. Equipment costing $7,000 is purchased for cash. 5. Supplies inventory costing $6,000 is bought on account. 6. Received cash from clients on account, $5,800. 14. Salaries payable of $3,500 are paid in cash. 24. Revenues of $10,000 are earned, of which $3.000 has been recovered in cash. The remaining $7,000 is owed to the company by its customers. 26. Customers pay $3,000 of the $5,000 they owe the company. 31. Jone determined that the cost of supplies on hand was $650. The beginning balance of supplies is $1,250. (Attention: On May 5, Supplies inventory costing $6,000 is bought) 31. Jone Consulting paid $180 for utilities. 3, Based on the following data, determine the cost of merchandise sold for May. Merchandise Inventory, May 1 $102,200