Joe owns an insurance office, while Alex operates a maintenance service that provides basic custodial duties. For the month of May, the following transactions occurred.

May $2$ Alex decides that she will need insurance for a one$-$day special event at the end of the month and pays Joe $$260$ in advance.

May $5$ Alex provides maintenance services to Joe$$s insurance offices on account, $$405.$

May $7$ Joe borrows $$460$ from Alex by signing a note.

May $14$ Alex purchases maintenance supplies from Spot Corporation, paying cash of $$180.$

May $19$ Joe pays $$405$ to Alex for maintenance services provided on May $5.$

May $25$ Joe pays the utility bill for the month of May, $$131.$

May $28$ Alex receives insurance services from Joe equaling the amount paid on May $2.$

May $31$ Joe pays $$460$ to Alex for money borrowed on May $7.$

$2.$ Using the format shown below, enter the impact of each transaction on the accounting equation for each company. $($Decreases to account classifications should be entered as a negative.$)$