For the past several years, Steffy Lopez has operated a part-time consulting business from his home. As of July 1, 20Y2, Steffy decided o move to rented quarters and to operate the business, which was to be known as Diamond Consulting, on a full-time basis. Diamond entered into the following transactions during July: Jul. 1 The following assets were received from Steffy Lopez in exchange for common stock: cash, $14,000; accounts receivable, $20,800; supplies, $3,100; and office equipment, $7,500. There were no liabilities received. Paid two months' rent on a lease rental contract, $4,800. 1 2 Paid the premiums on property and casualty insurance policies, $4,620. 4 Received cash from clients as an advance payment for services to be provided, and recorded it as unearned fees, $5,000. 5 Purchased additional office equipment on account from Office Station Co., $6,500. 6 Received cash from clients on account, $15,100. 10 Paid cash for a newspaper advertisement, $400. 12 Paid Office Station Co. for part of the debt incurred on July 5, $5,200. 12 Recorded services provided on account for the period July 1-12, $13,300. 14 Paid receptionist for two weeks' salary, $1,700. Record the following transactions on Page 2 of the journal: Recorded cash from cash clients for fees earned during the period July 1-17, $9,450. Jul. 222222233 17 18 Paid cash for supplies, $600. 20 Recorded services provided on account for the period July 13-20, $6,750. 24 Recorded cash from cash clients for fees earned for the period July 17-24, $4,000. 26 Received cash from clients on account, $12,000. 27 Paid receptionist for two weeks' salary, $1,700. 29 Paid telephone bill for July, $325. 31 Paid electricity bill for July, $675. 31 Recorded cash from cash clients for fees earned for the period July 25-31, $5,400. 31 Recorded services provided on account for the remainder of July, $3,000. 31 Paid dividends, $12,500.