Logan Miller started her own accounting firm, Miller Accounting, on May 1, 2017. Logan Miller wants to prepare monthly financial statements, so adjusting journal entries are required on May 31. Selected transactions for May follow: 1. $890 of supplies were used during the month. 2. Utilities expense incurred but not yet recorded or paid on May 31, 2017, is $253. 3. Paid cash of $3,648 for a one-year insurance policy on May 1, 2017. The policy came into effect on this date. 4. On May 1, purchased office equipment for $12,360 cash. It is being depreciated at $206 per month for 60 months. 5. On May 1, Logan signs a note payable for $10,400, 6% interest. 6. May 31 is a Wednesday and employees are paid on Fridays. Miller Accounting has two employees, who are paid $980 each for a five-day workweek that ends on Friday. 7. On May 15, received a $1,120 advance cash payment from a client for accounting services expected to be provided in the future. As at May 31, one half of these services had not been performed. 8. Invoices representing $1,700 of services performed during the month of May have not been recorded as at May 31. Prepare adjusting entries for the items above. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. May 31 2. May 31 3. May 31 4. May 31 5. May 31 6. May 31 7. May 31 8. May 31