Sheridan Services was formed on May 1, 2022. The following transactions took place during the first month. Transactions on May 1: 1. Jay Bradford invested $39,000 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 $2,500 per month. 3. Signed a 2-year rental agreement on a warehouse; paid $21,000 cash in advance for the first year: 4. Purchased furniture and equipment costing $30,300. A cash payment of $12,000 was made immediately; the remainder will b 5. Paid $2,000 cash for a one-year insurance policy on the furniture and equipment. Transactions during the remainder of the month: 6. Purchased basic office supplies for $500 cash. 7. Purchased more office supplies for $1,200 on account. 8. Total revenues earned were $18,300$7,300 cash and $11,000 on account. 9. Paid $400 to suppliers for accounts payable due. 10. Received $3,300 from customers in payment of accounts receivabie. 11. Received utility bills in the amount of $500, to be paid next month. 12. Paid the monthly salaries of the two employees, totaling $5,000. Post the journal entries to T-accounts. (Post entrles in the order of joumal entries presented in the previous question.) Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Prepaid Rent Equipment Accounts Payable Accounts Payable Service Revenue Salaries and Wages Expense Utilities Expense