Bruce lbach 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 $13,500 and signing a 90 -day note payable for the balance of $27,000. 2 Purchased 12 months of insurance to begin May 2; paid $21,000. 3 Completed a fitness contract for a group of clients today and received $5,500. 4 Purchased office supplies on account; $3,500. 6 Returned to the supplier $700 of defective office supplies purchased on May 4. 10 Provided services to a client today on account; $11,000. 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 $2,000 from a client for work to be done in June. 31 Paid month-end salaries of $42,000. 31 Paid the May telephone bill today; $2,000. 31 Received the May electrical bill today; $2,600. It will be paid on June 15 . Required: Prepare journal entries for each of the above transactions. Journal entry worksheet 1 6 Record the purchase of office supplies on account; $3,500. Note: Enter debits before credits. Journal entry worksheet Record the receipt of May electrical bill today; $2,600. It will be paid on June 15 Note: Enter debits before credits. Journal entry worksheet Record the purchase of new equipment, paying cash of $13,500 and signing a 90-day note payable for the balance of $27,000. Note: Enter debits before credits. Journal entry worksheet Record the purchase of 12 months of insurance to begin May 2; paid $21,000. Note: Enter debits before credits. Journal entry worksheet 5678.12 Record the completion of fitness contract for a group of clients today and received $5,500. Note: Enter debits before credits. Journal entry worksheet 12367812 Record the returns to the supplier $700 of defective office supplies purchased on May 4 Note: Enter debits before credits. Journal entry worksheet \begin{tabular}{llllll|l|}