Help Me SolVE T Problem 2-3A Preparing general journal entries LO3, 5 Bruce Ibach owns Biotech Fitness Centre, which showed the following selected transactions for the month ended May 31, 2020: Purchased new equipment, paying cash of $14,700 and signing a 90-day note payable for the balance of $39,000 Purchased 12 months of insurance to begin May 2: paid $28,200. Completed a fitness contract for a group of clients today and received $6,700. Purchased office supplies on account: $4,100. Returned to the supplier $820 of defective office supplies purchased on May 4. Provided services to a client today on account: $12,200. Paid for the May 4 purchase less the return of May 6. May 1 2 3 4 6 10 15 Received payment from the client of May 10. Received cash of $3,200 from a client for work to be done in June. 20 25 Paid month-end salaries of $54,000. 31 Paid the May telephone bill today, $2,600o Received the May electrical bill today, $3,800. It will be paid on June 15 31 31 Required Prepare journal entries for each of the above transactions