Fill these out as journal entries for the month of July 2020.

1) July 2 - Purchased office equipment on account for $5,600.

2) July 10 - Billed clients $67,000 on account.

3) July 14 - Purchased a company vehicle for $40,000. Paid $15,000 cash and issued a note payable for the amount owed.

4) July 21 - Paid electric bill (utility) for $1,200.

5) July 28 - Paid a cash dividend of $49,000 that was declared in June 2020.