Janet Enterprises incorporated on May 3, current year. The company engaged in the following transactions during its first month of operations. May 3 May 4 May 5 May 15 Issued capital stock in exchange for $950,000 cash. Paid May office rent expense of $1,800. Purchased office supplies for $600 cash. The supplies will last for several months. Purchased office equipment for $12,400 on account. The entire amount is due June 15. May 18 Purchased a company car for $45,000. Paid $15,000 cash and issued a note payable for the remaining amount owed. Billed clients $120,000 on account. May 20 May 26 May 29 Declared an $8,000 dividend. The entire amount will be distributed to shareholders on June 26. Paid May utilities of $500. May 30 Received $90,000 from clients billed on May 20. May 31 Recorded and paid salary expense of $32,000. A partial list of the account titles used by the company includes the following. Cash Dividends Payable Accounts Receivable Dividends Capital Stock Client Revenue Office Rent Expense Office Supplies Office Equipment Vehicles Notes Payable Accounts Payable Salary Expense Utilities Expense a. Prepare journal entries, including explanations, for these transactions. b. Post each entry to the appropriate ledger accounts (use the T account format illustrated in c. Prepare a trial balance dated May 31, current year. Assume accounts with zero balances are not included in the trial balance.