Mia Newton has loved animals from a very young age. After graduating from UGA University with a degree in Veterinary Medicine and working as a veterinarian at the UGA Veterinary School, she decided to open her own practice in suburban Atlanta. On May 1, 2020, Mia incorporated her business under the name For Pets, Inc. Listed below are various transactions that occurred during the remainder of the year: (a) on May 1, Mia purchased all of For Pets common stock for $200,000 cash. (b) On May 1, For Pets paid $3,000 to an attorney to prepare and file incorporation documents with the State of Georgia. (c) On May 2, For Pets borrowed $200,000 from a local bank. The bank note required payment of principal in four annual installments of $25,000 beginning on May 1, 2021. In addition, the note specified annual interest payments of 6%, with the first payment due on May 1, 2021. (d) On May 3, For Pets paid, in cash, $10,000 for the monthly rental on a building to be used as the veterinary clinic. (e) On May 5, For Pets paid $150,000 for medical equipment, office furniture, and other equipment. (1) On May 6, For Pets purchased various inventory items for $8,500 cash. (9) Also on May 6, For Pets purchased $500 worth of office supplies for cash. (h) On May 28, For Pets paid employees wages of $8,000 (which included Mia's salary of $6,000). 0 During May, For Pets received $30,000 from clients for office visits and sales of merchandise (pet food, medicine, etc.). A review of For Pets records at May 31, 2020, revealed the following:/ 0) Clients still owed For Pets $3,500 for services performed during May but not yet billed. These amounts are expected to be billed and collected in June. (k) At the end of May, a physical count of inventory revealed that $1,000 of inventory was still on-hand. (0) At the end of May, a physical count of office supplies revealed that $100 of supplies were still on-hand. (m) Depreciation on the equipment for May was estimated to be $1,250. (n) Interest needs to be recorded on the note payable. Required: 1. Record the activity for For Pets during May on the spreadsheet format below: Accounts Receivable Assets Office Supplies Property, Plant & Equipment Liabilities Notes Interest Payable Payable Accumulated Depreciation Stockholders' Equity Common Retained Stock Earnings Transaction Cash Inventory