Kenneth Jones opened a real estate agency called Kenneth Jones Realty & recorded the following transactions. Use the acctg equation to record the transactions into journals and T-accounts.

May 1 Invested $10,000 in the business.

May 1 Shared an office with another realtor and paid $2,000 for May rent.

May 3 Paid $400 for Mays janitorial services.

May 3 Paid company cash for office supplies at Office Max for $570.

May 9 Sold a home and immediately collected a commission of $7,400.

May 12 Sold a home but did not immediately collect the commission of $8,200 due to complications at closing.

May 14 Purchased stamps at the U. S. Post Office for $125 using a credit card, which is recorded as Accounts Payable.

May 16 Charged on account an advertisement announcing the opening of the realty business at the Commercial Appeal, $85.

May 17 Sold a home and immediately collected the commission, $4,500

May 18 Bought a computer and printer on account for $1,200.

May 18 Purchased Microsoft office software to install on the computer for $150.

May 18 Signed up for a monthly internet connection to the computer and immediately paid $25 for May.

May 22 Collected the commission of May 12; complications have been resolved.

May 23 Paid the months telephone bill, $185.

May 24 Paid of the months utility bill of $350. Kenneths share is $175.

May 31 Kenneth withdrew $2,500 of business cash for personal use.

May 31 Paid $1,900 to a secretary-receptionist.