Current Attempt in Progress Martinez Company buys merchandise on account from Marigold Company for $$592.$ Martinez sells the goods to Ellis for $$900$ cash. Use a tabular summary to record the transactions for Martinez Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. Increases in expenses require a negative sign or parentheses. Reductions in revenues require a negative sign of parentheses.Problem $2-7$A Preparing and posting journal entries; preparing a trial balance LO $3,4,5,6$ Elizabeth Wong has strong problem$-$solving skills and loves to work with people. After becoming a Certified Human Resources Professional $($CHRP$)$ and working for several companies, she opened her own business, HR Solutions. She completed the following transactions during May $2020$: May $1$ Invested $ $81,000$ in cash and office equipment that had a fair value of $ $54,000$ in the business. $1$ Prepaid $ $16,200$ cash for three months' rent for an office. $2$ Made credit purchases of office equipment for $ $27,000$ and office supplies for $ $5,409.6$ Completed a report on hiring solutions for a client and collected $$8,6\backslash$ theta $0$ cash. $9$ Completed a $ $16,600$ project implementing a training program for a client, who will pay within $30$ days. $10$ Paid half of the account payable created on May $2.19$ Paid $ $8,100$ cash for the annual premium on an insurance policy. $22$ Received $ $13,400$ as partial payment for the work completed on May $9.25$ Developed a performance review process for another client for $ $5,880$ on credit. $25$ Paid wages for May totalling $ $37,000.31$ Withdrew $ $5,600$ cash from the business to take a trip to Paris in June. $31$ Purchased $ $1,900$ of additional office supplies on credit. $31$ Paid $ $1,460$ for the month's utility bill. Required: $1.$ Prepare journal entries to record the transactions.