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 2023 May 1 Invested $78,800 in cash and office equipment that had a fair value of $50,000 in the business: 1 Prepaid $15,300 cash for three months' rent for an office, 2 Made credit purchases of office equipment for $25,500 and office supplies for $5,100, 6 Completed a report on hiring solutions for a client and collected $6,300 cash. 9 Completed a $16,380 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 $7,880 cash for the annual premium on an insurance policy, 22 Received $13,180 as partial payment for the work completed on May 9. 25 Developed a performance review process for another client for $5,500 on credit, 25 Paid wages for May totalling $35,586 31 Withdrew $5,300 cash from the business to take a trip to Paris in June, 31 Purchased $1,758 of additional office supplies on cradit. 31 Paid $1,438 for the month's utility bill. Required: 1. Prepare journal entries to record the transactions.