Bonita Services was formed on May $1,2022.$ The following transactions took place during the first month.

Transactions on May $1$:

Jay Bradford invested $$40,000$ cash in the company, as its sole owner.

Hired two employees to work in the warehouse. They will each be paid a salary of $$3,400$ per month.

Signed a $2-$year rental agreement on a warehouse; paid $$26,000$ cash in advance for the first year.

Purchased furniture and equipment costing $$31,200.$ A cash payment of $$12,000$ was made immediately; the re

Paid $$1,800$ cash for a one$-$year insurance policy on the furniture and equipment.

Transactions during the remainder of the month:

Purchased basic office supplies for $$600$ cash.

Purchased more office supplies for $$1,400$ on account.

Total revenues earned were $$19,200-$$$8,200$ cash and $$11,000$ on account.

Paid $$400$ to suppliers for accounts payable due.

Received $$3,100$ from customers in payment of accounts receivable.

Received utility bills in the amount of $$400,$ to be paid next month.

Paid the monthly salaries of the two employees, totaling $$6,800.$

$($a$)$

Prepare journal entries to record each of the events listed. $($List all debit entries before credit entries.

Credit account titles are automatically indented when amount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the

amounts.$)$

No$.$ Account Titles

Debit

Credit