Sarah Allen started her own consulting firm, Sarah Consulting, on May 1, 2022. The following transactions occurred during the mont of May. May 1 Sarah invested $8,000 cash in the business. 2 Paid $850 for office rent for the month 3 Purchased $500 of supplies on account. on 9 12 15 17 Paid $170 to advertise in the County News. Received $4,300 cash for services performed. Withdrew $1,200 cash for personal use Performed $5,000 of services on account. Paid $2,400 for employee salaries. Made a partial payment of $300 for the supplies purchased on account on May 3. Received a cash payment of $4,300 for services performed on account on May 15, Borrowed $4,800 from the bank on a note payable. Purchased equipment for $4,300 on account. Paid $250 for utilities. 20 23 26 29 30 la) Assets Cash Accounts Receivable Supplies $ 8000 $ $ i (850) 500 (170) i 4300 (1200) 5000 (2400) (300) 4300 (4300) 4800 1 i (250) 16220 70,0 cm SAATLUNSULTING Liabilities Notes Payable Accounts Payable Equipment $ 500 i i (300) i 4800 1 4300 4300 4200 4800 2500 Reveres EXPENSES 230 $ $ $ 850 i 170 4300 1200 5000 2400 1 i i 1 i 250 8000 $ 1200 S 9300 3670