Bruce lbach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31, 2020: May 1 Purchased new equipment, paying cash of $14,808 and signing a 90-day note payable for the balance of $40,000 2 Purchased 12 months of insurance to begin May 2; paid $28,800 3 Completed a fitness contract for a group of clients today and received $6,000 4 Purchased office supplies on account: $4,150. 6 Returned to the supplier $830 of defective office supplies purchased on May 1 19 Provided services to client today on account; $12,300 15 Paid for the May 4 purchase less the return of May 6. 20 Received payment from the client of May 18. 25 Received cash of $3,500 fron client for work to be done in June. 31 Paid month and salaries of $55,000 31 Paid the May telephone bill today: $2,658 31 Received the May electrical bill today, $3,988. It will be paid on June 15. Required: Prepare journal entries for each of the above transactions. 2&3. Post the entries to the T-accounts. Use the below format) Enter the balances brought forward from June 30, 2020: Cash (10D 56.600, Supplies (126) $1,250. Equipment (167) $8600; Accounts Payable 1201) $2100 Uneamed Teaching Revenue (233) $10.400 Taylor Smith, Capital (301) $3.600. Taylor Smith, Withdrawals (302) $12.600Teaching Revenue (401) $17,800 Wages Expense (623) $27.250; and Rent Expense (640) $6.600. 0 26.14