After operating for several months, artist Donovan Freeman completed the following transactions during the latter part of August August 15 Borrowed $32,000 from the bank, signing a note payable 22 Painted a portrait for a client on account totalling $8,600 28 Received $6.400 cash on account from clients 29 Received a utility bill of $400 which will be paid during September 30 Paid monthly salary of $2.500 to gallery assistant. Journalize the transactions of Donovan Freeman Artist Include an explanation with each journal entry. August 15. Donovan Freeman borrowed $32,000 from the bank, signing a note payable