3. Prepare a trial balance as of May 31,20. The following transactions occurred during May: (a) Invested cash in the business, $20,000. (b) Purchased a used van for cash, $8,000. (c) Purchased equipment on account, $3,000. (d) Received cash for services rendered, $3,000. (e) Paid cash on account owed from transaction (c), $2,000. (f) Paid rent for the month, $900. (g) Paid telephone bill, $200. (h) Earned revenue on account, $5,000. (i) Purchased office supplies for cash, $300. (j) Paid wages to an assistant, $600. (k) Purchased a one-year insurance policy, $1,300. (I) Received cash from services performed in transaction (h), $3,000. (m) Paid cash for gas and oil expense on the van, $180. (n) Purchased additional equipment for $5,000, paying $500 cash and spreading the remaining payments over the next 10 months. (o) Earned service fees for the remainder of the month of $2,900:$1,800 in cash and $1,100 on account. (p) Withdrew cash at the end of the month, $4,000. 1 and 2. Enter the transactions in T accounts, identifying each transaction with its corresponding letter. Foot and balance the accounts where necessary. Assets Accounts Payable Accounts Receivable