ARC Corpony entered into the following transactions during May its first month of operations: May 1: ANC Company cold common stock to owners in the mount of $200,000. May 1: ABC Company paid $36,800 cash for office rent for May June. and July May 3: ABC Company purchased a parcel of land costing 560,000 by paying $25,000 in cash and agreeing to pay the remainder within sixty days. May 9: ABC Company provided 532.800 of services to a customer. The customer didn't pay any cash on May 9, but agreed to pay the balance due by the end of the month. May 15: ABC Company purchased a two-year insurance policy by paying 324,000 cash. May 18: ABC Company sold the land purchased on May 3 for $49,000 cash May 21: A customer paid $20,000 cash to ABC Company for services to be provided in June and July May 27: The customer from May 9 paid the amount oned to ABC Company. May 31: ABC Company received a 59,000 bill for advertising done during May. No payment was made at this time The journal entry made by ABC Company to record the May 31 transaction would be: Advertising expense Cash 9.000 9,000 O Cash 9,000 Accounts payable 9,000 Accounts receivable 9,000 Advertising expense 9.000 9,000 Accounts payable 9,000 Advertising expense...... Advertising expense.... 9,000 Accounts receivable 9.000 O Advertising expenso... 9,000 Accounts payable 9,000 9,000 Accounts payable Cash 9,000 Cash 9,000 Advertising expense.... 9,000 O no journal entry would be recorded on May 31