post, P2-6A Abramson Financial Services was formed on May 1, 2017. The following events and transactions are from its first month: TOP 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 2017 rent and the other half was for the final month's rent. (Hint: The portion for the final month is considered 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. DOLL lo be 15 Purchased more supplies for $730 on account. c moril DOE Do b b 17 Completed a contract for a client for $3,200 on account. 22 Paid $320 for May's telephone bill. Completed services for a client and immediately collected $1,120. 26 Paid Jacob Abramson $1,980 cash for his personal use. 28 Collected $2,720 from the client billed on May 17. 30 Paid for the supplies purchased on account on May 15. O b wolle 30 Paid $67 interest expense on the note payable. 31 Received a cash advance of $500 for services to be completed in June. 31 Paid the employee's monthly salary, $2,340. 25 oorlotte U dan ompleted in June. hr La Instructions (a) Prepare journal entries to record the transactions. (b) Post the journal entries to ledger accounts. Use T accounts. (c) Prepare a trial balance as at May 31, 2017. OBOE de la