Record Journal Entries (or use T-accounts) for Blake Company regarding the following transactions for the month of March. If you are unsure about the account titles, be sure to indicate whether the account is an Asset, Liability, or Shareholders Equity.

1. Collected $5,000 of accounts receivable outstanding.

2. Services were completed for customers. A total of $1,500 was billed but no cash was received in March.

3. Paid $3,000 for rent for April, May, and June.

4. Wrote off $1,500 of accounts receivable outstanding.

5. Paid the February utilities bill for $100. It was recorded as an expense in February.