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:

May1Invested $65,000 in cash and office equipment that had a fair value of $38,000 in the business.1Prepaid $11,400 cash for three months' rent for an office.2Made credit purchases of office equipment for $19,000 and office supplies for $3,800.6Completed a report on hiring solutions for a client and collected $7,000 cash.9Completed a $15,000 project implementing a training program for a client, who will pay within 30 days.10Paid half of the account payable created on May 2.19Paid $6,500 cash for the annual premium on an insurance policy.22Received $11,800 as partial payment for the work completed on May 9.25Developed a performance review process for another client for $4,280 on credit.25Paid wages for May totalling $29,000.31Withdrew $4,000 cash from the business to take a trip to Paris in June.31Purchased $1,100 of additional office supplies on credit.31Paid $1,300 for the month's utility bill.

Required:

1.Prepare journal entries to record the transactions.