May 1 1 2 5 CO 9 15 17 22 Jacob Abramson invested $44,810 cash and equipment worth $10,690 in the company. Hired one employee to work in the office for a salary of $2,340 per month. Paid $3,255 cash for a one-year insurance policy. Signed a two-year rental agreement on an office and paid $4,550 cash. Half was for the May 2021 rent and the other half was for the final month's rent. (Hint: The portion for the final month is considered prepaid rent.) Purchased additional equipment costing $15,870. A cash payment of $7,150 was made immediately. Signed a note payable for the balance. Purchased supplies for $570 cash. Purchased more supplies for $730 on account. Completed a contract for a client for $3,200 on account. Paid $320 for May's telephone bill. Completed services for a client and immediately collected $1,120. Paid Jacob Abramson $1,980 cash for his personal use. Collected $2,720 from the client billed on May 17, Paid for the supplies purchased on account on May 15. Paid $67 interest expense on the note payable. Received a cash advance of $500 for services to be completed in June. Paid the employee's monthly salary. $2,340. 25 26 28 30 30 31 31 When can paraphrasing be used? O a. all of the above O b. in a formal essay O c. in a documentary O d. on a news report