chapter 2 question 11

The following transactions occurred for Lawrence Engineering: (Click the icon to view the transactions.) (Click the icon to view the journal entries.) Read the requirements. Requirement 1. Post the transactions to the T-accounts. Use the dates as posting references in the T-accounts. We will post to the accounts one transaction at a time. Begin by posting the event from the 2nd. Received $14,000 contribution from Brett Lawrence in exchange for common stock. (We will post to the accounts one transaction at a time. Post only the transaction from July 2 in this step.) \begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \multirow[t]{3}{*}{ Jul. 2} & Cash & 14,000 & \\ \hline & Common Stock & & 14,000 \\ \hline & Issued common stock for cash. & & \\ \hline \multirow[t]{3}{*}{ Jul. 4} & Utilities Expense & 370 & \\ \hline & Cash & & 370 \\ \hline & Paid cash expenses. & & \\ \hline \multirow[t]{3}{*}{ Jul. 5} & Equipment & 1,600 & \\ \hline & Accounts Payable & & 1,600 \\ \hline & Purchase of equipment on account. & & \\ \hline \multirow[t]{3}{*}{ Jul. 10} & Accounts Receivable & 2,900 & \\ \hline & Service Revenue & & 2,900 \\ \hline & Performed services on account. & & \\ \hline \multirow[t]{3}{*}{ Jul. 12} & Cash & 7,100 & \\ \hline & Notes Payable & & 7,100 \\ \hline & Borrowed cash by signing note. & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|} \hline Jul. 19 & Dividends & 200 & \\ \hline & Cash & & 200 \\ \hline & Paid cash dividends. & & \\ \hline Jul. 21 & Office Supplies & 840 & \\ \hline & Cash & & 840 \\ \hline & Purchase of office supplies with cash. & & \\ \hline Jul. 27 & Accounts Payable & 1,600 & \\ \hline & Cash & & 1,600 \\ \hline & Paid cash on account. & & \\ \hline \end{tabular} More info Jul. 2 Received $14,000 contribution from Brett Lawrence in exchange for common stock. Jul. 4 Paid utilities expense of $370. Jul. 5 Purchased equipment on account, $1,600. Jul. 10 Performed services for a client on account, \$2,900. Jul. 12 Borrowed $7,100 cash, signing a notes payable. Jul. 19 Cash dividends of $200 were paid to stockholders. Jul. 21 Purchased office supplies for $840 and paid cash. Jul. 27 Paid the liability from July 5