Dennis Davies decided to begin his own electrical service business on May 2, 2016. He named his business Power First Electrical and as his Bookkeeper you will initiate the process by performing the following tasks. Forms have been provided. (a) Journalize the opening entry of May 2, 2016. (b) Journalize the May transactions (c) Post [a & b] to the General Ledger. (d) Prepare a Trial Balance. (e) Prepare Financial Statements for May. Power First Electrical May 2, 2016 Cash $14,850 Accounts Payable $ 1,335 Electrical Supplies 3,250 Bank Loan 7,000 Electrical Equipment 9,000 D Davies, Capital 23,765 Office Furniture & Equipment 5,000 The chart of accounts: You may need to add new account names and numbers appropriate to the purchase. 1000 Cash 1030 Electrical Supplies 1080 Electrical Equipment 1090 Office Furniture & Equipment 2000 Accounts Payable Bank Loan 2005 3000 D Davies, Capital 4000 Service Revenue 5015 Advertising Expense 5020 Bank Charge Expense 5025 Business Fees & Licence Expense 5030 Office Expense 5035 Rent Expense 5040 Salaries & Wages Expense 5045 Staff Training Expense