This Comprehensive Problem requires account balances from the April month$-$end, which are available in

Connect or in the Working Papers. Assume it is Monday, May $1,$ the first business day of the month, and

you have just been hired as the accountant for Colo Company, which operates with monthly accounting

periods. All of the company's accounting work is completed through the end of April, and its ledgers

show April $30$ balances. During your first month on the job, the company experiences the following trans$-$

actions and events $($terms for all its credit sales are $\frac{2}{10},\frac{n}{30}$ unless stated differently$).$

May $1$ Issued Check No$.3410$ to S&P Management Co$.$ in payment of the May rent for $$3,710.$ Charge

$$2,968$ to Rent Expense$-$Selling Space, and charge $$742$ to Rent Expense$-$Office Space.

$($Use two lines to record the transaction.$)$