Problem 2-3A Maquoketa Services was formed on May 1, 2017. The following transactions took place during the first month 1. Jay BradFord invested $40,000 cash in the company, as its sole owner. Hired two employees to work in the warehouse. They will each be paid a salary of S3,300 per month. 3. Signed a 2-year rental agreement on a warehouse; paid $23,000 cash in advance for the first year 4. Purchased furniture and equipment costing $32,000. A cash payment of $12,000 was made 5. Paid $1,800 cash for a one-year insurance policy on the furniture and equipment. immediately; the remainder will be paid in 6 months. Transactions during the remainder of the month: 6. Purchased basic office supplies for $600 cash. 7. Purchased more office supplies for $1,600 on account. 8. Total revenues earned were $20,000-$8,000 cash and $12,000 on account. 9. Paid $300 to suppliers for accounts payable due 10. Received $3,100 from customers in payment of accounts receivable 11. Received utility bills in the amount of $500, to be paid next month. 12. Paid the monthly salaries of the two employees, totaling $6,600. entry is required, select "No Entry" for the account titles and enter o for the amounts.)