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After operating for several months, artist Nathan Laflamme completed the following transactions during the latter part of October October 15 Borrowed $25,000 from the bank,
After operating for several months, artist Nathan Laflamme completed the following transactions during the latter part of October October 15 Borrowed $25,000 from the bank, signing a note payable. 22 Painted a portrait for a client on account totalling $9,300. 28 Received $6,000 cash on account from clients. 29 Received a utility bill of $200, which will be paid during November. 30 Paid monthly salary of $2,600 to gallery assistant. Journalize the transactions of Nathan Laflamme, Artist. Include an explanation with each journal entry- Journalize the transactions of Nathan Laflamme, Artist. Include an explanation with each journal entry. (Record debits first, then credits. Enter explanations on the last line.) October 15. Nathan Laflamme borrowed $25,000 from the bank, signing a note payable. Journal Entry Accounts and Explanations Date Debit Credit October
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