P2-3B Richardson Services Ltd. was formed on May 1, 2017. The following transactions took place during the first month. Transactions on May 1: 1. Shareholders invested 50,000 cash in exchange for ordinary shares. 2. Hired two employees to work in the warehouse. They will cach be paid a salary of 2,800 per month. 3. Signed a 2-year rental agreement on a warehouse; paid 24,000 cash in advance for the first year. 4. Purchased furniture and equipment costing 30,000. A cash payment of 6,000 was made immediately; the remainder will be paid in 6 months. 5. Paid 1,800 cash for a one-year insurance policy on the furniture and equipment. Transactions during the remainder of the month: 6. Purchased basic office supplies for 940 cash. 7. Purchased more office supplies for 1,300 on account 8. Total revenues recognized were 18,000-5,000 cash and 13,000 on account. 9. Paid 400 to suppliers for accounts payable due. 10. Received 3,000 from customers in payment of accounts receivable. 11. Received utility bills in the amount of 260, to be paid next month. 12. Paid the monthly salaries of the two employees, totalling 5,600. Instructions (a) Prepare journal entries to record each of the events listed. (Omit explanations.) (b) Post the journal entries to T-accounts. (c) Prepare a trial balance as of May 31, 2017