2. Dr. Schekter, DVA, opened a veterinary clinic on Many 1, 2015. The business transactions for May are May I Dr. Schekter invested $400,090 cash in the business in exchange for 5,000 shares of capital May 4 Land and a building were purchased for $250,000, Of this amount. $70,000 applied to the land, and $180,000 to the building. A cash payment of $100,000 was made at the time of the purchase, and a note payable was issued for the remaining balance. May 9 Medical instruments were purchased for $130,000 cash. May 16 Office fixtures and equipment were purchased for $50,000, Dr. Schekter paid $20,000 at the time of purchase and agreed to pay the entire remaining balance in 15 days. May 21 Office supplies expected to last several months were purchased for $5,000 cash. May 24 Dr. Schekter billed clients $2,200 for services rendered. Of this amount, $1,900 was received in cash, and $300 was billed on account (due in 30 days). May 27 A $400 invoice was received for several radio advertisements aired in May. The entire amount is due on June 5. May 28 Received a $100 payment on the $300 account receivable recorded May 24. May 31 Paid employees $2,800 for salaries earned in May. a. Prepare journal entries (including explanations) for each transaction. b. Post each transaction to the appropriate ledger accounts C. Prepare a trial balance dated May 31, 2015