Required information [The following information applies to the questions displayed below.) Eli owns an insurance office, while Olivia operates a maintenance service that provides basic custodial duties. For the month of May, the following transactions occurred. May 2 Olivia decides that she will need insurance for a one-day special event at the end of the month and pays Eli $160 in advance. May 5 Olivia provides maintenance services to Eli's insurance offices on account, $355. May 7 Eli borrows $360 from Olivia by signing a note. May 14 Olivia purchases maintenance supplies from Spot Corporation, paying cash of $130. May 19 Eli pays $355 to Olivia for maintenance services provided on May 5. May 25 Eli pays the utility bill for the month of May, $121. May 28 Olivia receives insurance services from Eli equaling the amount paid on May 2. May 31 Eli pays $360 to Olivia for money borrowed on May 7. quired: ecord transactions for Olivia's Maintenance Services. (If no entry is required for a transaction/event, select "No Journal Entry quired" in the first account field.) Answer is not complete. No General Journal Debit Credit Date May 02 1 160 Cash Deferred Revenue x 160 2 May 05 Repairs and Maintenance Expense 3 May 07 Cash x 360 RUUIT: 0 Required information * Answer is not complete. No Date General Journal Debit Credit 1 May 02 x Cash Deferred Revenue 160 x 160 2 May 05 Repairs and Maintenance Expense % 3 May 07 x 360 Cash Notes Payable 360 4 May 14 No Journal Entry Required & 5 May 19 355 Accounts Payable Cash 355 C 6 May 25 Utilities Expense Cash 121 121 x 7 May 28 160 Deferred Revenue Service Revenue 160 8 May 31 > X 360 Notes Payable Cash 360 quy muli paid on May 2. May 31 Eli pays $360 to Olivia for money borrowed on May 7. 2. Using the format shown below, enter the impact of each transaction on the accounting equation for eac account classifications should be entered as a negative.) ELI'S INSURANCE SERVICES OLIVIA'S MAINTENANCE SERVICES Assets Liabilities + Liabilities + Stockholders' Equity $ 0 May 2 $ 160 $ Stockholders' Equity Assets $ 0 $ 160 $ (160) 160 $ 0 5 7 14 19 25 28 31