Instructions 1. Prepare journal entries to record each of the events listed. Provide relevant descriptions for each journal entry in good form; skip a line between entries. 2. Post Journal Entries to the General Ledger 3. Prepare a trial balance as of May 31,2017. Home Services was formed on May 1, 2017. The following transactions took place during the first month. 1. May 1 - Stockholders invested $60,000 cash in exchange for common stock. 2. May 1 - Signed a 2-year rental agreement on a warehouse; paid $36,000 cash in advance for the first year. 3. May 1 - Purchased equipment costing $35,000. A cash payment of $12,000 was made immediately; the remainder will be paid in 60 days. 4. May 1-Paid $1,500 cash for a one-year insurance policy on the equipment. 5. May 2 - Purchased basic office supplies for $400 cash. 6. May 3 - Purchased office supplies from Office Depot for $1,600 on account. 7. May 10 - Received $12,000 cash for services performed for a new customer. 8. May 13 - Paid $600 to Office Depot for supplies purchased on account on May 3. 9. May 18$16,000 of services were performed for B. Jones on account. 10. May 31 - Received May utility bill in the amount of $400, to be paid next month. 11. May 31 - Paid the monthly salaries of the two employees, totalling $7,600. 12. May 31 - Received $6,000 from B. Jones on account