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Required information [The following information applies to the questions displayed below.] Starting in May, Nicole has decided that she has everything she needs to open her doors to customers. To keep up with competition, Nicole has added gift certificates and has started to advertise her company more to keep her business going in the long term. Here is a sample of some transactions that occurred in the month of May at Nicole's Getaway Spa (NGS). May 1 Paid $3,000 cash for an insurance policy that covers the period from June 1 until May 31 next year. May 4 Ordered five new massage tables from Spa Supplies Unlimited for $250 each for future delivery. May 7 Provided $860 of spa services to customers on account. May 10 Received spa supplies purchased for $800 on account to use at Nicole's Getaway Spa. May 13 Received a bill for $60 for running an advertisement in the newspaper in May. The bill was paid in cash . May 16 Paid one-quarter of the amount owed from May 10. May 19 Customers paid $1,900 cash for NGS gift cards. No gift cards have been used. May 20 Obtained financing from the bank by signing a $5,000 two-year note payable. The $5,000 cash was deposited in NGS's bank account. May 22 Received two of the massage tables ordered on May 4 and paid for the two tables in cash. May 25 Paid $500 cash for utility bills for services received and billed in May. Required: 1. For each of the transactions, prepare journal entries, using the date of the transaction as the reference. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record the payment of $3,000 cash for an insurance policy that covers the period from June 1 until May 31 next year. 2 Record the entry for the order placed for five new massage tables from Spa Supplies Unlimited for $250 each for future delivery. 3 Record the entry for $860 worth of spa services provided to customers on account. 4 Record the receipt of spa supplies purchased for $800 on account to use at Nicole's Getaway Spa. 5 Record the receipt of a bill for $60 for running an Note : = journal entry has been entered 5 Record the receipt of a bill for $60 for running an advertisement in the newspaper in May. The bill was paid in cash. 6 Record the payment of one-quarter of the amount owed from May 10. 7 Record the payment by customers of $1,900 cash for NGS gift cards. No gift cards have been used. 8 Record the entry for finance obtained from the bank by signing a \$5,000 two-year note payable. The \$5,000 cash was deposited in NGS's bank account. 9 Record the receipt of two of the massage tables ordered on Mav 4 and Daid for the two tables in cash. Note : journal entry has been entered 6 Record the payment of one-quarter of the amount owed from May 10. 7 Record the payment by customers of $1,900 cash for NGS gift cards. No gift cards have been used. 8 Record the entry for finance obtained from the bank by signing a \$5,000 two-year note payable. The \$5,000 cash was deposited in NGS's bank account. 9 Record the receipt of two of the massage tables ordered on May 4 and paid for the two tables in cash. 10 Record the payment of $500 cash for utility bills for services received and billed in May. Note : = journal entry has been entered Required information [The following information applies to the questions displayed below.] Starting in May, Nicole has decided that she has everything she needs to open her doors to customers. To keep up with competition, Nicole has added gift certificates and has started to advertise her company more to keep her business going in the long term. Here is a sample of some transactions that occurred in the month of May at Nicole's Getaway Spa (NGS). May 1 Paid $3,000 cash for an insurance policy that covers the period from June 1 until May 31 next year. May 4 Ordered five new massage tables from Spa Supplies Unlimited for $250 each for future delivery. May 7 Provided $860 of spa services to customers on account. May 10 Received spa supplies purchased for $800 on account to use at Nicole's Getaway Spa. May 13 Received a bill for $60 for running an advertisement in the newspaper in May. The bill was paid in cash . May 16 Paid one-quarter of the amount owed from May 10. May 19 Customers paid $1,900 cash for NGS gift cards. No gift cards have been used. May 20 Obtained financing from the bank by signing a $5,000 two-year note payable. The $5,000 cash was deposited in NGS's bank account. May 22 Received two of the massage tables ordered on May 4 and paid for the two tables in cash. May 25 Paid $500 cash for utility bills for services received and billed in May. Required: 1. For each of the transactions, prepare journal entries, using the date of the transaction as the reference. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record the payment of $3,000 cash for an insurance policy that covers the period from June 1 until May 31 next year. 2 Record the entry for the order placed for five new massage tables from Spa Supplies Unlimited for $250 each for future delivery. 3 Record the entry for $860 worth of spa services provided to customers on account. 4 Record the receipt of spa supplies purchased for $800 on account to use at Nicole's Getaway Spa. 5 Record the receipt of a bill for $60 for running an Note : = journal entry has been entered 5 Record the receipt of a bill for $60 for running an advertisement in the newspaper in May. The bill was paid in cash. 6 Record the payment of one-quarter of the amount owed from May 10. 7 Record the payment by customers of $1,900 cash for NGS gift cards. No gift cards have been used. 8 Record the entry for finance obtained from the bank by signing a \$5,000 two-year note payable. The \$5,000 cash was deposited in NGS's bank account. 9 Record the receipt of two of the massage tables ordered on Mav 4 and Daid for the two tables in cash. Note : journal entry has been entered 6 Record the payment of one-quarter of the amount owed from May 10. 7 Record the payment by customers of $1,900 cash for NGS gift cards. No gift cards have been used. 8 Record the entry for finance obtained from the bank by signing a \$5,000 two-year note payable. The \$5,000 cash was deposited in NGS's bank account. 9 Record the receipt of two of the massage tables ordered on May 4 and paid for the two tables in cash. 10 Record the payment of $500 cash for utility bills for services received and billed in May. Note : = journal entry has been entered

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