Concord Services was formed on May 1, 2022. The following transactions took place during the first month Transactions on May 1 1 Jay Bradford invested $39,000 cash in the company, as its sole owner 2 Hired two employees to work in the warehouse. They will each be paid a salary of $3,500 per month 3 Signed a 2-year rental agreement on a warehouse, paid $24,000 cash in advance for the first year. 4 5 Paid $1,600 cash for a one-year insurance policy on the furniture and epulpn Transactions during the remainder of the month Purchased furniture and equipment costing $31.500. A cash payment of $11,000 was made immediately, the remainder will b depuipment 6 Purchased basic office supplies for $400 cash 2. Purchased more office supplies for $1,200 on account. 8. Total revenues earned were $20,500-$8,500 cash and $12,000 on account 9. Paid $300 to suppliers for accounts payable due 10. Received $3,100 from customers in payment of accounts receivable 11 Received utility bills in the amount of $400, to be paid next month. 12 Paid the monthly salaries of the two employees, totaling $7,000 Concord Services was formed on May 1, 2022. The following transactions took place during the first month May 1 ord invested $39,000 cash in the company, as its sole owner employees to work in the warehouse. They will each be paid a salary of $3,500 per month year rental agreement on a warehouse: paid $24,000 cash in advance for the first year. 1 furniture and equipment costing $31.500. A cash payment of $11,000 was made immediately, the remainder will be paid in 6 weeks 00 cash for a one-year insurance policy on the furniture and equipment ng the remainder of the month: 1 basic office supplies for $400 cash more office supplies for $1,200 on account nues earned were $20,500-$8,500 cash and $12,000 on account Ito suppliers for accounts payable due $3,100 from customers in payment of accounts receivable utility bills in the amount of $400, to be paid next month onthly salaries of the two employees, totaling $7,000 4 (5) Prepare journal entries to record each of the events listed. List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles Debit Credit 2. 3. 4. 5. 6. 9. 10. 11. 12. Post the journal entries to T-accounts, (Post entries in the order of journal entries presented in the previous question.) Cash > < 3 3 Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Equipment Accounts Payable Owner's Capital Service Revenue Salaries and Wages Expense Utilities Expense Prepare a trial balance as of May 31, 2022 Totals CONCORD SERVICES Trial Balance P Debit Credit $ $