sheffield services was formed on may 1 2022 the following transactions took place during the first month

Sheffeld Services was formed on May 1.2022. The following transactions took place during the first month. Transactionson May 1 : 1. Jay Braciord invested 541000 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 $2,900 per month. 3. Signed a 2 year rental agreement on a warehouse, paid 525.000 cash in advance for the first year. 4. Purchased furniture and equipment costing 530,000 . A cash payment of $12,000 was made immediately, the remainder willt 5. Paid $2000 cash for a one-year insurance policy on the fumiture and equipment. Transactions ouring the remaindet of the monthe 6. Purchased besic otfice supplies for $600 cash. 7. Purchasied more orfice supplies for $1,300 on account 8. Total reverues eamed were 518.000$7.000 cash and 511000 on account 9. Pela 5300 tosuppliers for accounts payable cue. 10. Recelved $3,300 from custoriers in pevinent of zocounts fecelvable. 11 Recelvedutity bils in the arnunt of $500, to bepaid hoctmonth 12. Pald the noothly salariss of exe wo endopers torains 55.800 12. Paid the monthly salaries of the two employees, totaling $5,800. (a) Prepare joumal entries to record each of the events listed. A.lst all deblt entries before credit entries, Cradit account vities are automatioally indented when omount is entered. Do not indent manually If no entry is required, seloct "No Entry" for the account titles and enter 0 for the amounts.) 4. 5. 6. 7. 8. 9. Post the journal entries to T-accounts (Post entries in the order of joumol entries presentes in the previous question) Post the joumal entries to T-accounts. (Post entries in the order of joumal entries presented in the previous question.) Accounts Recelvable Supplies Prepald insurance Prepaid Rent Equlpment Service Revenue Salaries and Wages Expense Utilities Expense eTextbook and Media List of Accounts Savtiof taiter Attempts: 0 of 5 used (c) Prepare a trial balance as of May 31,2022 Preparea trial balance as of May 31,2022