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 $82,000 in cash and office equipment that had a fair value of $55,000 in the business.
	1	Prepaid $16,500 cash for three months rent for an office.
	2	Made credit purchases of office equipment for $27,500 and office supplies for $5,500.
	6	Completed a report on hiring solutions for a client and collected $8,700 cash.
	9	Completed a $16,700 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 $8,200 cash for the annual premium on an insurance policy.
	22	Received $13,500 as partial payment for the work completed on May 9.
	25	Developed a performance review process for another client for $5,980 on credit.
	25	Paid wages for May totalling $37,500.
	31	Withdrew $5,700 cash from the business to take a trip to Paris in June.
	31	Purchased $1,950 of additional office supplies on credit.
	31	Paid $1,470 for the months utility bill.

Required: 1. Prepare journal entries to record the transactions.

Record the investment of $82,000 in cash and office equipment that had a fair value of $55,000 in the business.

Record the $16,500 cash prepaid for three months rent for an office.

Record the credit purchases of office equipment for $27,500 and office supplies for $5,500.

Record the completion of a report on hiring solutions for a client and collected $8,700 cash.

Record the completion of $16,700 project for a client, who will pay within 30 days.

Record the Payment of half of the account payable created on May 2.

Record the payment of cash $8,200 for the annual premium on an insurance policy.

Record the partial payment of $13,500 received for the work completed on May 9.

• Record the completed work for another client for $5,980 on credit.
• Record the wages paid for May totaling $37,500.
• Record the withdrawal of $5,700 cash from the business by Elizabeth Wong for personal use.
• Record the purchase of $1,950 worth additional office supplies on credit.
• Record the payment of $1,470 for the months utility bill.