Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31, 2023: May 1 Purchased new equipment, paying cash of $13,000 and signing a 90-day note payable for the balance of $22,000. 2 Purchased 12 months of insurance to begin May 2; paid $18,000. 3 Completed a fitness contract for a group of clients today and received $5,000. 4 Purchased office supplies on account; $3,250. 6 Returned to the supplier $650 of defective office supplies purchased on May 4. 10 Provided services to a client today on account; $10,500. 15 Paid for the May 4 purchase less the return of May 6. 20 Received payment from the client of May 10. 25 Received cash of $1,500 from a client for work to be done in June. 31 Paid month-end salaries of $37,000. 31 Paid the May telephone bill today; $1,750. 31 Received the May electrical bill today; $2,100. It will be paid on June 15. Required: Prepare journal entries for each of the above transactions. View transaction list Journal entry worksheet

Bruce lbach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended Mary 31. 2022: May 1 Purchased new equipment, paying cash of $13, ee and signing a 9 -doy note puyable for tser balance of $22,000 2 Purchased 12 months of insurance to begin May 2; paid \$11l, ove. 3 Coepleted a fitness contract for a group of clients today and received 55 , 000, 4 Purchased office supplies on account; 53, 25e. 6 Returned to the supplier s6se of defective office supplies purchased on Mry 4. 10. Provided servlces to a client today on account; 516, 50e. 15 Paid for the May 4 purchase Iess the return of Aay 6 . 20 Received payment from the client of May 10 . 25 Aeceived cash of $1,560 from a client for uork to be done in June. 31 Paid month-end salaries of 537,000 . 31 Paid the May telephoene bil1 today? 31,73l. 31 lecelved the May electrical bil1 roday? 52 , 100. It mill be paid on 3use is. Required: Prepare joumal entries for each of the above transactions. Journal entry worksheet