Prepare journal entries for the following transactions/events in May, 2021 for A Inc. If no entry is required for any transaction/event, state that no entry is necessary. Company's year end is December 31.

a. Owner transferred land (valued at $50,000) into A Inc. and received common shares in return.

b. Rented an office and paid one month's rent in advance, $700.

c. Purchased $600 of supplies and paid cash.

d. Performed services on account, $17,000.

e. Paid $4,200 cash for office furniture.

f. Owner received a dividend of $700.

g. Collected $17,000 on account (from (d) above).

h. Collected a deposit (i.e. cash) of $2,000 from a customer for services to be performed in Jan., 2022.

i. A newspaper advertisement was published describing the opening of A Inc.. The owner estimated that the free publicity was worth the $3,000 paid.

j. Hired a new employee. Salary will be $5,000 per month.

k. Paid the employee $2,500 for month of work.

l. Paid $5,000 for the exclusive right to sell a special product in the Maritime provinces. A Inc. paid the company that manufactures the product to be the only sellers of the popular product.

m. Purchased a two-year insurance policy for $5,000 on account. Policy starts in January, 2022