Bonita Services was formed on May 1, 2022. The following transactions took place during the first month. Transactions on May 1 : 1. Jay Bradford invested $41,000 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 permenth: 3. Signed a 2-year rental agreement on a warehouse; paid $24,000 cash in advance for the first year 4. Purchased furniture and equipment costing $33,500. A cash payment of $12,000 was made immediately, the rem 5. Paid $1,900 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 $1.500 on account. 8. Total revenues earned were $21.500$8.500 cash and $13.000 on account