Maquoketa Service was formed on May 1, 2020. The following transactions took place during the first month (amounts in thousands). Transactions during the Month of May is as follows: May-1: Jay Bradford invested $40,000 cash in the company, as its sole owner. May-1: Hired two employees to work in the warehouse. They will each be paid a salary of $3,050 per month. May-2: Signed a 2-year rental agreement on a warehouse, paid $24,000 cash in advance for the first year. May-3: Purchased furniture and equipment costing $30,000. A cash payment of $10,000 was made immediately; the remainder will be paid in 6 months. May-4: Paid $1,800 cash for a one-year insurance policy on the furniture and equipment. May-6: Purchased basic office supplies for $420 cash. May-7: Purchased more office supplies for $1,500 on account. May-8: Total revenue earned were $20,000-$8,000 cash and $12,000 on account. May-9: Paid $400 to suppliers for accounts payable due. May-10: Received $3,000 from customers in payment of accounts receivable. May-11: Received utility bills in the amount of $380, to be paid next month. May-12: Paid monthly salaries of the two employees, totaling $6,100. Instructions: a) Prepare journal entries to record each of the events listed. (omit explanation). b) Post the journal entries to T-accounts. c) Prepare a trial balance as of May 31, 2020.