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 $65,000 in cash and office equipment that had a fair value of $38,000 in the business. 1 Prepaid $11,400 cash for three months rent for an office. 2 Made credit purchases of office equipment for $19,000 and office supplies for $3,800. 6 Completed a report on hiring solutions for a client and collected $7,000 cash. 9 Completed a $15,000 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 $6,500 cash for the annual premium on an insurance policy. 22 Received $11,800 as partial payment for the work completed on May 9. 25 Developed a performance review process for another client for $4,280 on credit. 25 Paid wages for May totalling $29,000. 31 Withdrew $4,000 cash from the business to take a trip to Paris in June. 31 Purchased $1,100 of additional office supplies on credit. 31 Paid $1,300 for the months utility bill