Chapter 2 Homework 0 Saved Help Required information The following information applies to the questions displayed below.) Part 2 of 2 Eli owns an insurance office, while Olivia operates a maintenance service that provides basic custodial duties. For the month of May, the following transactions occurred. points Olivia decides that she will need insurance for a one-day special event at the end of the month and Hay Days Bli $180 in advance. May 5 Olivia provides maintenance services to Eli's insurance offices on account, $365. May 7 Eli borrow $380 from Olivia by signing a note. May 14 Olivia purchases maintenance supplies from Spot Corporation, paying cash of $140. May 19 Eli pays $365 to Olivia for maintenance services provided on May 5. May 25 Eli pays the utility bill for the month of May, $123. May 28 Olivia receives insurance services from Eli equaling the amount paid on May 2. May 31 Eli pays $380 to Olivia for money borrowed on May 7. eBook References 2. Using the format shown below, enter the impact of each transaction on the accounting equation for each company. (Decreases to account classifications should be entered as a negative.) ELI'S INSURANCE SERVICES Assets = Liabilities + Stockholders' Equity $ 180 $ 180 0 OLIVIA'S MAINTENANCE SERVICES Assets - Liabilities - Stockholders' Equity $ 180 S (180) May 2 14 19