Benito Mendez opened Mendez Appraisals. He rented office space and has a part-time secretary to answer the phone and make appraisal appointments. Mendezs transactions for the first month of business are as follows: May 1 Mendez invested cash in the business, $6,700. 2 Paid rent, $400. 3 Purchased office supplies, $100. 4 Purchased office equipment on account, $2,000. 5 Received cash for services rendered, $480. 8 Paid phone bill, $38. 9 Paid electric bill, $48. 10 Received cash for services rendered, $410. 13 Paid part-time employee, $600. 14 Paid car rental for out-of-town trip, $400. 15 Paid for newspaper ad, $30. 18 Received cash for services rendered, $660. 19 Paid mileage reimbursement for part-time employees use of personal car for business deliveries (transportation expense), $26. 21 Mendez withdrew cash for personal use, $50. 23 Made payment on account for office equipment purchased earlier, $200. 24 Earned appraisal fee, which will be paid in a week, $700. 26 Paid for newspaper ad, $30. 27 Paid for local softball team sponsorship (miscellaneous expense), $15. 28 Paid part-time employee, $600. 29 Received cash on account, $250. 30 Received cash for services rendered, $300. 31 Paid cab fare (transportation expense), $12. Required: 1. Set up general ledger accounts from the chart of accounts. 2. Journalize the transactions for May in a two-column general journal. Use the following journal page numbers: May 110, page 1; May 1324, page 2; May 2631, page 3. 3. Post the transactions to the general ledger. 4. Prepare a trial balance. 5. Prepare an income statement and a statement of owners equity for the month of May, and a balance sheet as of May 31, 20--