HW Problem 3.1 - A) Record the journal entries for the following transactions. B) Make adjusting entries as of 5/31/X1 assuming no adjustments were made in April and $120 of supplies remain. (You'll need to make adjustments for EACH of the following transactions.) 4/1 4/12 4/19 4/22 4/30 5/1 $1,100 of supplies were purchased on account at Office Mart (invoice #553). Received $3,600 from a customer that prepaid for six months of service (May 1-Oct 31). Paid $4,500 of advertising in advance (ck #235). The ads run for 3 months (May 1 - July 31). Paid a 6-month insurance premium of $1,800 (check #236) for May 1-Oct 31. Borrowed $42,000 and signed a 5-month 8% promissory note with interest due at maturity. Purchased a new computer for $4,900 on account from Office Depot (invoice # 2352). The computer has an expected life of three years and an expected salvage value of $580