Journalize the following five transactions for Nexium & Associates, Inc.Omit explanations.

Mar.1Bills are sent to clients for services provided in February in the amount of $800.9Corner Office, Inc. delivers office furniture ($1,060) and office supplies ($160) to Nexium leaving an invoice for $1,220.15Payment is made to Corner Office, Inc. for the furniture and office supplies delivered on March 9.23A bill for $430 for electricity for the month of March is received and will be paid on its due date in April.31Salaries of $850 are paid to employees.

2.)

May24Land105,000

Cash105,000

Purchased land for business.

What effects does this journal entry have on the accounts?