Carol Stewart started Stewart Financial Services on June 1, 2020. Financial statements are prepar monthly. On June 30, 2020, the trial balance had the following normal balances: Cash $2,500 Accounts Payable $1,000 C. Stewart Capital $5,000, Rent Expense $2,000, Utilities Expense $500 Advertising Expense $1,000 The following transactions took place in the month of July: Jul 9 Collected $4,500 for financial services provided. 10 Paid $6,000 cash for new office equipment. 11 Paid $400 of account payable for June advertising. 12 Borrowed $3,000 from the bank, repayable in two years. 13 C. Stewart invested an additional $2,000 in the business. 17 Received advance payment of $1,500 for financial services to be provided in August. 21 Signed a contract for expert tax advice needed in August. Agreed to pay $700. 25 Provided financial services for a client; sent an invoice for $2,200 requesting payment. 28 Paid $1,200 in advance for advertising for August and September. 29 Paid cash for rent of $1,000 and utilities of $500 for the month of July. 30 C. Stewart withdrew $1,800 cash for personal use.