The following transactions occurred during the May of the current year, first month of operations for Corona Company. Please journalize the transactions, (Skip lines between entries) Transactions May 1 The owner, Jack Frost, invested $20,000 in Cash and $60,000 of equipment into the new company. May 1 Paid $1,200 for insurance for 12 months of coverage. May 1 Purchased supplies for $7,000, paying $2,000 in cash and the remainder on account. May 10 Received $10,000 in cash for sale of merchandise costing $7,500. May 12 Billed customers for sales of $15,000 fo merchandise costing $11,000. May 16 Paid creditors on account, $3,000. May 19 Received cash from customers on account, $7,000. May 30 Paid wages expenses, $5,000. May 31 Jack withdrew $2,500 cash for personal use. GENERAL JOURNAL Page 7 Date Account Name PR Debit Credit