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.

$2$ 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:

$6.$ Purchased basic office supplies for $$600$ cash.

$7.$ Purchased more office supplies for $$1,400$ on account.

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

$9.$ Paid $$400$ to suppliers for accounts payable due.

$10.$ Received $$3,100$ from customers in payment of accounts receivable.

$11.$ Received utility bills in the amount of $$400,$ to be paid next month.

$12.$ Paid the monthly salaries of the two employees, totaling $$6,800.$

Prepare a trial balance as of May $31,2022.$

BONITA SERVICES

Trial Balance

May $31,2022$

$\backslash$table$[[,,,,$Credit$],[$Cash$,$$$,40000,$$$,],[$No Entry,,$0,,],[$Prepaid Rent,,$26000,,],[,,31200,,],[$Prepaid Insurance,,$1800,,],[,,1400,,],[$Service Revenue,,$19200,,],[4,,,,],[$Accounts Payable,,$400,,],[,,,,],[$Accounts Receivable,,,,$],[,,,,],[$Utilities Expense,,,,$],[$Salaciestand Wages Expense,,,,$],[$Salarles and Wages Expense,,,,$],[$Totals$,$$$,,$$$,]]$