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 Inveated 676,000 in cash and office equipment that had a fair value of 449,000 in the business. 1 Prepaid 614,700 cash for three months' tent for an office. 2 Made credit purchases of office equipment for $24.500 and office supplies for 64,900. 6 Completed a report on hiring solutions for a client and collected $0,100 cash 9 Completed a $16,100 project implementing & training program for a client, who will pay within 30 days. 10 Paid half of the account payable created on May 2. 19 Paid 67,600 cash for the annual premium on an insurance policy. 22 Received $12,900 as partial payment for the work completed on May 9. 25 Developed a performance review process for another client for 45,380 on credit. 25 Paid wages for May totalling 434,500 31 Withdrew 65,100 cash from the business to take a trip to Paris in June. 31 Purchased $1,650 of additional office supplies on credit. 31 Paid 41,410 for the month's utility bill. Required: 1. Prepare journal entries to record the transactions. View transaction list View journal entry worksheet Credit Debit 76,000 49,000 Record the investment of $76,000 in cash and office equipment that had a fair value of $49,000 in the business. 125.000 Record the $14,700 cash prepaid for three months 4.900 9,800 rent for an office. 14,700 24,500 Record the credit purchases of office equipment for $24,500 and office supplies for $4,900. Record the completion of a report on hiring solutions for a client and collected $8,100 cash. 4,900 29,400 Record the completion of $16,100 project for a client, who will pay within 30 days. 8.100 8,100 Note : journal entry has been entered TWU TITUUT Services revenue 16.100 16 100 DUBIUM 31 Paid $1.410 tor the months une bill. Required: 1. Prepare journal entries to record the transactions. View transaction list View journal entry worksheet Del Record the Payment of half of the account payable created on May 2. Record the payment of cash $7,600 for the annual premium on an insurance policy. Record the partial payment of $12,900 received for the work completed on May 9. Record the completely work for another client for $5,380 on credit. 10 Record the wages paid for May totaling $34,500. Record the withdrawal of $5,100 cash from the business by Elizabeth Wong for personal use. Note journal entry has been entered WIKIMEM HIKISHIM Services revenue 31 Paid $1, 410 for the month utility bill Required: 1. Prepare journal entries to record the transactions, View transaction list View journal entry worksheet Deb the work completed on May 9. Record the completed work for another client for $5,380 on credit. 10 Record the wages paid for May totaling $34,500. 11 Record the withdrawal of $5,100 cash from the business by Elizabeth Wong for personal use. Record the purchas-lyf $1,650 worth additional office supplies on credit. 13 Record the payment of $1,410 for the month's utility bill. Note: journal entry has been entered MATEM THEHEN Services revenue 283. Complete the following accounts use the balance column format or T-accounts Cash (101) Accounts Receivable (106Office Supplies (124): Prepaid Insurance (128% Prepaid Rent (131) Office Equipment (163]. Accounts Payable (201. Elizabeth Wong. Capital (301), Elizabeth Wong. Withdrawals (302. Services Revenue (4031: Wages Expense (6231 and Urines Expense (6901. Post the entres to the accounts.(Record the transactions in chronological order) 101. Cash Debit Dale Credit Balance PR 61 61 61 01 31 G1 G1 G1 106: Accounts Hece PR Credit Balance 31 G1 A 61 01 124 Credit PR 61 G1 128. Prepaid Insurance PR Deba Credit 61 Balance 61 G1 131: Prepaid Rent PR Credit Balance G1 G1 G1 163: Office Equipment Deb Credit Date Balance G1 Date 20: Accounts Payable PR Credit G1 61 Balace 61 G1 Dat 301: Ebbe Wang, Capital PR Credit G1 01 01 Date 302 Elsabeth Wong, withdrawals Credit G1 Balance 61 403 Services Revence PR Debit Credit G1 Balance 31 61 61 623: Wages Expense Date PR Debit Credit Balance 61 61 G1 690: Utilities Expense Debit Credit Dale PR Balance 01 G1 G1 4. Prepare a trial balance at May 31, 2020. HR SOLUTIONS Trial Balance May 31, 2020 Account Titles Debit Credit Totals S 0 $