Abramson Financial Services was formed on May 1, 2021. The following events and transactions are from its first month:

May 1		Jacob Abramson invested $44,810 cash and equipment worth $10,690 in the company.
1		Hired one employee to work in the office for a salary of $2,340 per month.
2		Paid $3,255 cash for a one-year insurance policy.
5		Signed a two-year rental agreement on an office and paid $4,550 cash. Half was for the May 2021 rent and the other half was for the final months rent. (Hint: The portion for the final month is considered prepaid rent.)
8		Purchased additional equipment costing $15,870. A cash payment of $7,150 was made immediately. Signed a note payable for the balance.
9		Purchased supplies for $570 cash.
15		Purchased more supplies for $730 on account.
17		Completed a contract for a client for $3,200 on account.
22		Paid $320 for Mays telephone bill.
25		Completed services for a client and immediately collected $1,120.
26		Paid Jacob Abramson $1,980 cash for his personal use.
28		Collected $2,720 from the client billed on May 17.
30		Paid for the supplies purchased on account on May 15.
30		Paid $67 interest expense on the note payable.
31		Received a cash advance of $500 for services to be completed in June.
31		Paid the employees monthly salary, $2,340.

Prepare journal entries to record the transactions.