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P 2 . 6 A ( L O 2 , 3 , 4 AP Abramson Financial Services was formed on May 1 , 2 0

P2.6A (LO2,3,4 AP Abramson Financial Services was formed on May 1,2024. The following events and transactions are from its first month:
May 1 Jacob Abramson invested $44,810 cash and equipment worth $10,690 in the company.
1 Hired one employee to work in the office for a salary of $2,340 per month.
2 Paid $3,255 cash for a one-year insurance policy.
5 Signed a two-year rental agreement on an office and paid $4,550 cash. Half was for the May 2024 rent and the other half was for the final month's rent. (Hint: The payment for the final month's rent should be considered an asset and be recorded in Prepaid Rent.)
8 Purchased additional equipment costing $15,870. A cash payment of $7,150 was made immediately. Signed a note payable for the balance.
9 Purchased supplies for $570 cash.
15 Purchased more supplies for $730 on account.
17 Completed a contract for a client for $2n nn arrnimt
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