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 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 earned 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. Post the journal entries to T-accounts. (Post entries in the order of journal entries presented in the previous question.) Cash > Accounts Receivable Supplies Prepaid Insurance Prepaid Rent Equipment Accounts Payable > Owner's Capital Service Revenue Salaries and Wages Expense