Bob Royce incorporated Royce Consulting, an accounting practice, on May 1, 2014. During the first month of operations, these events and transactions occurred. Stockholders invested $106,000 cash in exchange for common stock of the corporation. May 1 Hired a secretary-receptionist at a salary of $2,650 per month. 3 Purchased $848 of supplies on account from Pickering Supply Company Paid office rent of $1,484 for the month. Completed a tax assignment and billed client $2,650 for services performed. 11 12 Received $4,452 advance on a management consulting engagement. 17 Received cash of $3,498 for services completed for Woodman Co. Paid secretary-receptionist $2,650 salary for the month Paid 50% of balance due Pickering Supply Company 31 31 The company uses the following chart of accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense. 3498 May 17 Cash Accounts Receivable 3498 Salaries and Wages Expense May 31 2,650 Cash 2,650 (Paid salaries) May 31 Accounts Payable 424 Cash 424 (Paid creditor on account) Post to the ledger T-accounts. (Post entries in the order of journal entries presented in th Cash 5/1 106,000 5/31 Accounts Receivable X x Supplies X Accounts Payable X 5/3 5/31 O00L0000000 l0olooolooloo