Q$4.$ Flypeople a local air carrier and SEU an educational institution, both are Saudi companies which exchange services with one another all the time. Both companies prepare their financial reports on morthly basis and were engaged in the following transactions during May $2024$:

SEU purchased $2$ flight tickets for SR$2,400$ paying cash. The flights are scheduled for November $2024.$

Flypeople has a fleet of vehicles worth SR$11,900,000.$ The average useful life for those vehicles is $11$ years with salvage value of SR$125,000.$ Flypeople uses straight line depreciation method.

SEU as a governmental institution, it credits employees salaries on the $27$ th of each month. Due to some system failure in May, salaries payment was postponed to June $3$rd$.$ Total salaries due is SR$13,000,000.$

During May Flypeople had a balance of SR$9,500$ for cargo services provided to SEU but not yet billed to them.

Required: prepare adjusting entries for both Flypeople and SEU whenever applicable for the month of May $2024.$