CC3-1 ACcounting or bulhess Operations Starting in May, Nicole has decided that she has everything that she needs to open her doors to cus- tomers. To keep up with competition, Nicole has added gift certificates and has started to advertise ber company more to keep her business going in the long term. Here is a sample of some transac- tions that occurred in the month of May at Nicole's Getaway Spa (NGS). May Paid $3,000 cash for an insurance policy that covers the period from June until May 31 next year Ordered five new massage tables from Spa Supplies Unlimited for $250 each tor future delivery Provided $800 of spa services to customers on account. May 4 May 7 May 10 ceived spa supplies purchased for $800 on account to use at Nicole's Getaway Spa. Received a bill for $60 for running an advertisement in the newspaper in May The bill was paid in cash. May 13 May 16 Paid one-quarter of the amount owed from May 10. May 19 Issued $1,900 of gift certificates to customers for cash. May 20 Obtained financing from the bank by signing a $5,000 two-year note payable. May 22 Received two of the massage tables ordered on M tables in cash. Paid S500 cash for utility bills for services received and billed in May. May 25