Journalize the transactions of lawrence engineering. include an explanation with each journal entry. use the following accounts: cash; accounts receivable; office supplies; equipment; accounts payable; notes payable; common stock: dividends; service revenue; and utilities expense.

jul. 2 received $14,000 contribution from brett lawrence in exchange for common stock.
4 paid utility expense of $370.
5 purchased equipment on account, $1,600.
10 performed services for a client on account, $2,900.
12 borowed $7,100 cash, signing a note payable.
19 cash dividends of $200 were paid to stockholders.
21 purchased office supplies for $840 and paid cash.
27 paid the liability from july 5.

The Journal entries are as follows:

(i) On July 2,

Cash A/c Dr. $14,000

   To common stock     $14,000

(To record the common stock)

(ii) Only July 4,

Utility expenses A/c Dr. $370

    To cash A/c                          $370

(To record the utility expenses paid)

(iii) Only July 5,

Equipment A/c Dr. $1,600

    To accounts payable A/c      $1,600

(To record equipment purchased on account)

(iv) Only July 10,

Account receivables A/c Dr. $2,900

    To service revenue A/c      $2,900

(To record Performed services for a client on account)

(v) Only July 12,

Cash A/c Dr. $7,100

   To notes payable    $7,100

(To record the borrowed cash on notes payable)

(vi) Only July 19,

Dividend A/c Dr. $200

   To cash                    $200

(To record cash dividend paid to stockholders)

(vii) Only July 21,

Office supplies A/c Dr. $840

   To cash                               $840

(To record office supplies paid cash)

(viii)  Only July 27,

Accounts payable A/c Dr. $1,600

   To cash                               $1,600

(To record the liability paid)

answer; normative economics;