Maquoketa Services was formed on May 1, 2021 by Jay Bradford. The following transactions took place during May 2021 1. Jay Bradford invested $40,000 cash in the company, as its sole owner. 2. Hired two employees to work in the warehouse. They will each be paid a salary of $3,050 per month. 3. Signed a 2-year rental agreement on a warehouse; paid $24,000 cash in advance for the first year. 4. Purchased furniture and equipment costing $30,000. A cash payment of $10,000 was made immediately The remainder will be paid in 6 months. 5. Paid $1,800 cash for a one-year insurance policy on the furniture and equipment. 6. Purchased basic office supplies for $420 cash. 7. Purchased more office supplies for $1,500 on account 8. Total revenues earned were $20,000-$8,000 cash and $12,000 on account. 9. Paid $400 to suppliers for accounts payable due. 10. Received $3,000 from customers in payment of accounts receivable. 11. Received utility bills in the amount of $380, to be paid next month. 12. Paid the monthly salaries of the two employees, totaling S6,100. Instructions a. Prepare journal entries to record each of the events listed. (Omit explanations.) b. Post the journal entries to T-accounts. e. Prepare a trial balance as of May 31, 2021