Swifty Services was formed on May 1, 2022. The following transactions took place during the first month. Transactions on May 1: 1. Jay Bradford invested $41,000 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 $2,600 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 $28,600. A cash payment of $10,000 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 $1,500 on account. 8. Total revenues eamed were $18,600$7,600 cash and $11,000 on account. 9. Paid $500 to suppliers for accounts payable due. 10. Received $3,100 from customers in payment of accounts receivable. 11. Received utility bills in the amount of $400, to be paid next month 12. Paid the monthly salaries of the two employees, totaling $5,200. 6. Supplies Cash 500 7. Supplies 1500 Accounts Pavable 8. ServiceRevenue 18600 Cists Accounts Payable I 11000 9. Accounts Pansable 500 Cinsh 10. Camb Accounts Recelvable