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 Mry 31, 2023: May I Purchased nee equicaent, paying cash of 513 , eoe and signing a 96 -day note payable for the balance of $22,069. 2. Purchased 12 months of insurance to begin May 2; paid 518 , 000. 3 Conpleted a fitness contract for a group of clients todey and recelved 55 , eae. 4 Purchased office supplies on accouat; 53,250 . 6 Returned to the supplier \$ose of defective office supplies purchased on May 4 ; 1 e Provided services to a client today on account; 51e, 500. 15 Paid for the May 4 purchase less the return of May 6 . 20 Recelved payaent froe the client of May 10 . 25 heceived cash of 51,500 from a client for work to be done in Jane. 31. Paid month-end salarles of 537 , 000. 31 Paid the May telcphone b111 todays 51,754 . 31 Received the Hay electirical bi11 today? 52,100 . It will be pajd on June 15 . Required: Prepare journal entries for each of the above transactions