^{2. Do the following journal entries. Please do not forget to date. Do not forget to indent when you are crediting. (44 points)}

^{A partial list of the account titles used by the company includes}

^{Cash Client Revenue Prepaid Insurance}

^{Accounts Receivable Office Rent Expense}

^{Office Equipment Salary Expense}

^{Vehicles Utilities Expense}

^{Notes Payable Accounts Payable}

^{Janet Enterprises incorporated on May 3, 2015. The company engaged in the following transactions during its first month of operations:}

^{May 4 Paid office rent expense of $1800}

^{May 5 Purchased office supplies for $600 cash. The supplies will last for several month}

^{May 15 Purchased office equipment for $12400 on account. The entire amount is due June 15}

^{May 18 Purchased a company car for $45000. Paid $15000 cash and issued a note payable for the remaining amount owed}

^{May 20 Billed clients $120000 on account}

^{May 29 Paid May utilities of $500}

^{May 30 Received $90000 from clients billed on May 20}

^{May 31 Recorded and paid salary expense of $32000}

^{May 31 Purchased a 2-year firs insurance policy for $5000}