7. Record the following transactions occurred. July 2 Received $18,000 contribution from Bart Leroy in exchange for common stock. July 4 Paid utilities expense of S 430. July 5 Purchased equipment on account, $2,100. July 10 Performed services for a client on account, $2,500. July 12 Borrowed 87,400 cash, signing a notes payable. July 19 Cash dividends of $350 were paid to stockholders. July 21 Purchased office supplies for $850 and paid cash. July 27 Paid the liability from July 5