After operating for several months, artist Mark Meecham 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 $9.100 28 Received $6,200 cash on account from clients 29 Received a utility bill of $500, which will be paid during September 30 Paid monthly salary of $3,000 to gallery assistant Journalize the transactions of Mark Meecham Artist. Include an explanation with each journal entry. Journalize the transactions of Mark Meecham Artist. Include an explanation with each journal entry (Record debits first, then credit August 15. Mark Meecham borrowed $32,000 from the bank signing a note payable Journal Entry Date Accounts and Explanations Debit Credit August Assignments #1: 1. Why is the marketing concept sometimes difficult to implement in firms? 2. How does marketing work as a coordinating force in companies? 3. What is the relationship between the corporate plan and the marketing plan? 4. Why might customer satisfaction be a more appropriate objective than profitability? 5. Why might a company reduce its product range