Designs has the following accounts in its general ledger Cash. Accounts Receivable Supplies Office. Equipment Accounts payable. Common Stock, Dividends Service Fees Earned Rent Expenses and Salaries Expense Prepare general journal entries to record the following transactions. Shareholders invested $220,000 cash in exchange for stock. Paid may rent $10, 600 Purchased office equipment for $18,000 paying $6,000 cash with the balance due on account in 60 days Purchased supplies on account $4,000 Billed clients or services $11,000 Collected $7,000 on account from clients Paid $3,000 on account to suppliers Paid $10,000 cash dividends Paid salaries for May, $6, 400