work Question 11 of 11 View Policies Current Attempt in Progress < Swifty Services was formed on May 1, 2020. The following transactions took place during the first month. Transactions on May 1: 1: -/1 E Jay Bradford invested $41,000 cash in the company, as its sole owner. 2. 3. 4. 3 4 5 5. Hired two employees to work in the warehouse. They will each be paid a salary of $2,600 per month. Signed a 2-year rental agreement on a warehouse; paid $21,000 cash in advance for the first year. Purchased furniture and equipment costing $28,600. A cash payment of $10,000 was made immediately; the remainder wil Paid $2,000 cash for a one-year insurance policy on the furniture and equipment. Transactions during the remainder of the month: 6. 19 Purchased basic office supplies for $500 cash. Purchased more office supplies for $1,500 on account. Total revenues earned were $18,600-$7.600 cash and $11,000 on account. Paid $500 to suppliers for accounts payable due. 7. 8. 2012 9. 10. 11. 12. Paid the monthly salaries of the two employees, totaling $5,200. Received $3,100 from customers in payment of accounts receivable. Received utility bills in the amount of $400, to be paid next month. (a)