After operating for a month, Shawn Andrews’ dental practice completed the following transactions during July:

Using the steps outlined in the five-step transaction analysis, record the transactions in the journal.

Transcribed Image Text:

Jul 3 The business borrowed $25.000 from the bank, signing a note payable. Performed service for patients on account, $2,900. 9 16 Received cash on account from patients, $1,200. 22 Received a utility bill. $550, which will be paid during August. 31 Paid the monthly salary to its dental assistance, $1,900. 31 Paid interest expense of $125 on the bank loan.