Problem 2-3A Maquoketa Services was formed on May 1, 2017. The following transactions took place during the first month.

Transactions on May 1:
1.	Jay BradFord invested $40,000 cash in the company, as its sole owner.
2.	Hired two employees to work in the warehouse. They will each be paid a salary of $3,200 per month.
3.	Signed a 2-year rental agreement on a warehouse; paid $22,000 cash in advance for the first year.
4.	Purchased furniture and equipment costing $31,900. A cash payment of $10,000 was made immediately; the remainder will be paid in 6 months.
5.	Paid $2,000 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 $600 cash.
7.	Purchased more office supplies for $1,500 on account.
8.	Total revenues earned were $21,900$8,900 cash and $13,000 on account.
9.	Paid $400 to suppliers for accounts payable due.
10.	Received $2,800 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 $6,400.

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Prepare journal entries to record each of the events listed