PRINTER VERSION oblem 2-3A (Part Level Submission) quoketa Services was formed on May 1, 2017. The following transactions took place during the first month ransactions on May 1: ·3ay BradFord invested $41,000 cash in the company, as its sole owner. 2. Hired two employees to work in the warehouse. They will each be paid a salary of $3,000 per month. Signed a 2-year rental agreement on a warehouse; paid $24,000 cash in advance for the first year sed furniture and equipment costing $30,600. A cash payment of $12,000 was made immediately; the remainder will be paid in 6 months s. Paid $,1,900cash for a oneryear insurance policy on the furnture and equpment. Transactions during the remainder of the month 6. Purchased basic office supplies for $500 cash 7. Purchased more office supplies for $1,200 on account. 8. Total revenues earned were $18,600-$7,600 cash and $11,000 on account. 9. Paid $300 to suppliers for accounts payable due. 10. Recelved $2,900 from customers in payment of accounts receivable. 11. Received utility bills in the amount of $400, to be paid next month. 12. Paid the monthl y salaries of the two employees, totaling $6,000.
