vents and transactions are expenses because these u post, P2-6A Abramson Financial Services was formed on May 1, 2017. The following events and tra from its first month: May 1 Jacob Abramson invested $44.810 cash and equipment worth $10,690 in the company. 1 Hired one employee to work in the office for a salary of $2,340 per month 2 Paid $3,255 cash for a one-year insurance policy. 5 Signed a two-year rental agreement on an office and paid $4,550 cash. Half was for the Mayo and the other half was for the final month's rent. (Hint: The portion for the final month is consider prepaid rent.) 8 Purchased additional equipment costing $15,870. A cash payment of $7,150 was made immediately Signed a note payable for the balance. 9 Purchased supplies for $570 cash. 15 Purchased more supplies for $730 on account. 17 Completed a contract for a client for $3,200 on account 22 Paid $320 for May's telephone bill. 25 Completed services for a client and immediately collected $1,120. tad su 120 do 22 buvo 26 Paid Jacob Abramson $1,980 cash for his personal use. 28 Collected $2,720 from the client billed on May 17. 30 Paid for the supplies purchased on account on May 15. 30 Paid $67 interest expense on the note payable. b lolot 31 Received a cash advance of $500 for services to be completed in June. 31 Paid the employee's monthly salary, $2,340. Instructions (a) Prepare journal entries to record the transactions. (b) Post the journal entries to ledger accounts. Use T accounts. (c) Prepare a trial balance as at May 31, 2017. 05.0E IngAn lad Ishte por