You are responsible for recording transactions at Facebook, Inc. Here are the transactions for May 2024:

• May 1: Received $300,000 in cash as payment for consulting services.
• May 5: Purchased office supplies worth $10,000 on credit.
• May 10: Paid $40,000 in cash for salaries.
• May 15: Sold advertising space for $200,000 in cash.
• May 20: Paid $25,000 in cash for insurance.
• May 25: Received a bill for telephone expenses, $7,000, to be paid next month.
• May 31: Collected $180,000 in cash from customers for services provided.

Prepare the general ledger accounts for these transactions.