Wo Computer Corporation had the following opening account balances at the end of April: Cash $5000, Accounts receivable $6000, Accounts payable $2000, Common shares $5000 and Retained earnings $4000. It entered the following transactions during the month of May. Prepare a journal entry in good format for the following: 1 Purchased equipment on account for $8000 Paid $1600 for rent for the month of May 3. Provided computer services for $3800 on account Paid Sask Power $300 cash for utilities used in May 5 Borrowed $20,000 from the bank 6 Paid supplier for equipment purchased in transaction 1 7 Purchased a one year accident insurance policy for $500 cash 8 Received $3000 cash in partial payment of the account owed in transaction 3