Margaret Moore started her own consulting firm, Margaret Consulting, on May 1, 2022. The following transactions occurred during the month of May. May 1 Margaret invested $7,600 cash in the business. 2 Paid $950 for office rent for the month. 3 Purchased $600 of supplies on account. 5 Paid $160 to advertise in the County News. 9 Received $4,500 cash for services performed. 12 Withdrew $1,200 cash for personal use. 15 Performed $5,600 of services on account. 17 Paid $2,000 for employee salaries. 20 Made a partial payment of $400 for the supplies purchased on account on May 3. 23 26 228 29 30 Received a cash payment of $3,600 for services performed on account on May 15. Borrowed $5,500 from the bank on a note payable. Purchased equipment for $4,000 on account. Paid $350 for utilities.