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 Invested $66,088 in cash and office equipment that had a fair value of $39,000 in the business 1 Prepaid $11,700 cash for three months' rent for an office. 2 Made credit purchases of office equipment for $19,500 and office supplies for $3,900. 6 Completed a report on hiring solutions for a client and collected $7,100 cash. 9 Completed a $15,109 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 $6,600 cash for the annual premium on an insurance policy. 22 Received $11,900 as partial payment for the work completed on May 9. 25 Developed a performance review process for another client for $4,380 on credit. 25 Paid wages for May totalling $29,500. 31 withdrew $4,100 cash from the business to take a trip to Paris in June. 31 Purchased $1,150 of additional office supplies on credit. 31 Paid $1,319 for the month's utility bill. Required