E2-16D

E2-16D The following transactions occurred for Mission Cable Services July 2 Received $20,000 contribution from Thomas, owner, in exchange for capital. Paid utilities expense of $800 Purchased equipment on account, $4,200 4 5 10 Performed services for a client on account, $4,000. 12 Borrowed $14,000 cash, signing a notes payable. 19 The owner, Thomas, withdrew $1,000 cash from the business. 21 Purchased office supplies for $1,600 and paid cash 27 Paid the liability from July 5 Requirements 1. Journalize the transactions of Mission Cable Services. Include an 2. Open T-accounts for Mission Cable Services. 3. Compute the July 31 balance for each account explanation