Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31, 2023:

May 1 Purchased new equipment, paying cash of $14,700 and signing a 90 day note payable for the balance of $39,000.
2 Purchased 12 months of insurance to begin May 2; paid $28,200.
3 Completed a fitness contract for a group of clients today and received $6,700.
4 Purchased office supplies on account; $4,100.
6 Returned to the supplier $820 of defective office supplies purchased on May 4.
10 Provided services to a client today on account; $12,200.
15 Paid for the May 4 purchase less the return of May 6.
20 Received payment from the client of May 10.
25 Received cash of $3,200 from a client for work to be done in June.
31 Paid month-end salaries of $54,000.
31 Paid the May telephone bill today; $2,600.
31 Received the May electrical bill today; $3,800. It will be paid on June 15.

Required
Prepare journal entries for each of the above transactions.