The following transactions occurred for wilson Technology Solutions:

May 1 The business received cash of $85,000 and issued common stock to Zack Wilson.

2 Purchased office supplies on account, $550.

4 Paid $57,000 cash for building and land. The building had a fair market value of $48.000.

6 Performed services for customers and received cash, $3,600.

9 Paid $450 on accounts payable.

17 Performed services for customers on account, $3,400.

19 Paid rent expense for the month, $1,400.

20 Received $1,300 from customers for services to be performed next month.

21 Paid $300 for advertising in next month's IT Technology magazine.

23 Received $2,600 cash on account from a customer.

31 Incurred and paid salaries, $1,200.

Analyzing and journalizing transactions

Journalize the transactions of Wilson Technology Solutions. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable: Office Supplies: Prepaid Advertising: Building: Land: Accounts Payable: Unearned Revenue; Common Stock; Service Revenue: Rent Expense: Salaries Expense.