OBLEM Transaction Analysis, General Journal, Ledger Accounts, and Trial Balance After graduation from veterinary school, Laura Stors entered private practice. The tran LO5 actions of the business through May 27 are as follows: LO4 L06 20xx REQUIRED May 1 Laura Stors invested $2,000 in her business bank account. 3 Paid $300 for two months' rent in advance for an office. 9 12 Purchased medical supplies for $200 in cash. Purchased $400 of equipment on credit, making a 25 percent down payment. 15 Delivered a calf for a fee of $35 (on credit). 18 Made a partial payment of $50 on the equipment purchased May 12. Paid a utility bill of $40. 27 1. Record these transactions in the general journal. 2. Post the transactions to the following accounts in the ledger: Cash (111); Accounts Receivable (112); Medical Supplies (115); Prepaid Rent (117); Equipment (144); Accounts Payable (212); Laura Stors, Capital (311); Veterinary Fees Earned (411); and Utilities Expense (512). 3. Prepare a trial balance as of May 31. 4. How does the transaction of May 15 relate to recognition and cash flows? Also compare the transactions of May 9 and May 27 with regard to classification