Exercise 4 JJ company's account balances as of May 1 20X0 (all normal balances) are listed as follows: Account Balance (S) Cash 10,000 Account Receivable 1,000 Supplies 2,900 Prepaid Insurance 4,650 PPE 19,500 Account Payable 7,650 Capital 30,400 During May,20x0, Dr JJ completed the following transactions: April 1. Paid car rent for May, $400 3. Purchased goods on account, $2,100 5. Received cash from customers $1,000 8. Purchased supplies on account, $2450 9. One of the goods purchased on May 3 was defective. It was returned with the permission of the supplier, who agreed to reduce the account for the amount of the item, $300 12. Paid cash to account payable, $1,250 17. Paid cash for renewal of a six-month property insurance policy, $3200 24. Paid cash for interest expense, $55 30. Recorded the cash received in payment of services performed to customer during May, $4,000 30. Paid salaries, $1,000 30. Paid various utility expenses, $260 30. Paid miscellaneous expenses, $132 Requirements: i. Journalise the transactions during May 20X0 ii. Determine the balances of accounts at the end of May 20X0