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 575,898 in cash and office equipment that had a fair value of $48,000 in the business 1 Prepaid $14,400 cash for three months' rent for an office 2 Made credit purchases of office equipment for $24,000 and office supplies for $4,800 6 Completed a report on hiring solutions for a client and collected $8,000 cash 9. Completed a $16,000 project implementing training program for a client, who will pay within 30 days. 10 Paid half of the account payable created on ray 2. 19 Paid $7,500 cash for the annual premium on an insurance policy. 22 Received $12,000 partial payment for the work completed on May. 25 Developed a performance review process for another client for $5,280 on credit. 25 Paldies for ay totalline 534,000 31 withdrew $5,000 cash from the business to take a trip to Paris in June 31 Purchased $1,600 of additional office supplies on credit 31 Palit 51,400 for the month's utility bill Required: 1. Prepare journal entries to record the transactions View transaction list View transaction list Journal entry worksheet 1 2 3 5 6 7 13 RARE Record the investment of $75,000 in cash and office equipment that had a fair value of $48,000 in the business. Note: Enter debits before credits. General Journal Debit Date May 01, 2020 Credit Record entry Clear entry View general journal 283. Complete the following accounts (use the balance column format or T-accounts) Cash (101): Accounts Receivable (106): Office Supplies (124), Prepaid Insurance (128). Prepaid Rent (131), Office Equipment (163); Accounts Payable (201): Elizabeth Wong. Capital (301), Elizabeth Wong Withdrawals (302) , Services Revenue (403)Wages Expense (623), and Utilities Expense (690). Post the entries to the accounts. (Record the transactions in chronological order) 101: Cash Debit Date Credit Balance PR G1 G1 G1 G1 G1 G1 G1 61 61 Date 106: Accounts Receivable PR Debit Credit G1 Balance G1 55 G1 G1 124: Office Supplies Debit Date Credit Balance PR G1 G1 G1 Date PR Balance 128: Prepaid'Insurance Debit Credit G1 G1 G1 131: Prepaid Rent Debit Date PR Credit Balance G1 G1 G1 Date Balance 163: Office Equipment PR Debit Credit G1 G1 G1 Date Balance 201: Accounts Payable PR Debit Credit G1 G1 G1 9999 G1 Date Balance 301: Elizabeth Wong. Capital PR Debit Credit G1 G1 G1 Date Balance 302: Elizabeth Wong. Withdrawals PR Debit Credit G1 G1 G1 Date Balance E555 403: Services Revenue PR Debit Credit G1 G1 G1 G1 623: Wages Expense Debit Date Credit Balance PR G1 G1 G1 690: Utilities Expense Debit Credit Date PR Balance G1 G1 G1 4. Prepare a trial balance at May 31, 2020 HR SOLUTIONS Trial Balance May 31, 2020 Account Titles Debit Credit Totals