Problem 2-4B Record transactions (LQ2-4) Eli owns an insurance office, while Olivia operates a maintenance service that provides basic custodial duties. For the month of May. the following transactions occurred. 0livia decides that she vill need insurance for a one-day special event at the end of the month and pays Eli $120 in advance. May 2 May 5 olivia provides naintenance services to Eli's insurance offices on account, $335. May May 14 0livia purchases naintenance supplies from Spot Corporation, paying cash of $110. May 19 Eli pays $335 to Olivia for maintenance services provided on May 5. May 25 Eli pays the utility bill for the month of May, $117. May 28 0livia receives insurance services from Eli equaling the amount paid on May 2. May 31 Eli pays $320 to olivia for money borroved on May 7. 7 Eli borrows $320 from 0livia by signing a note. Required: Record each transaction for Ell's insurance Services. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Olivia decides that she will need insurance for a one-day special event at the end of the month and pays Eli $120 in advance. Olivia provides maintenance services to Eli's insurance offices on account, $335. Eli borrows $320 from Olivia by signing a note. 3 Olivia purchases maintenance supplies from Spot Corporation, paying cash of $110. 4 Eli pays $335 to Olivia for maintenance services provided on May 5. Eli pays the utility bill for the month of May, $117. Olivia receives insurance services from Eli equaling the amount paid on May 2. Eli pays $320 to Olivia for money borrowed on May 7. 8