Wittbold & Associates, Inc., completed the following transactions during May 2018, its first month of operations: i(Click the icon to view the transactions.) Requirement 1. Using the steps outlined in the five-step transaction analysis, journalize the transactions of Wittbold & Associates, Inc. List transactions by date. Use the following accounts: Cash, Accounts receivable, Supplies, Building, Accounts payable, Common stock, Service revenue, Salaries expense, and Rent expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 1: Sold $50,000 of common stock to Kaitlin Wittbold to start the business. Date May Journal Entry Accounts and Explanations Debit Credit More info C May 1 Sold $50,000 of common stock to Kaitlin Wittbold to start the business. 3 Purchased supplies on account, $500. 5 Paid cash for a building to use for storage, $40,000. 6 Performed service for customers and received cash, $1,200. 11 Paid on accounts payable, $100. 18 Performed service for customers on account, $2,400. 24 Received cash from a customer on account, $900. 31 Paid the following expenses: salaries, $550, and rent, $1,600. Print Done - X