Question
Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred. July3 Jake provides
Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred.
July3 Jake provides lawn services to Luke's repair shop on account, $500.
July6 One of Jake's mowers malfunctions. Luke provides repair services to Jake on account, $450.
July9 Luke pays $500 to Jake for lawn services provided on July 3.
July 14 Luke borrows $600 from Jake by signing a note.
July 18 Jake purchases advertising in a local newspaper for the remainder of July and pays cash, $110.
July 20 Jake pays $450 to Luke for services provided on July 6.
July 27 Luke performs repair services for other customers for cash, $800.
July 30 Luke pays employee salaries for the month, $300.
July 31 Luke pays $600 to Jake for money borrowed on July 14.
Required:
Record the transactions for Jake's Lawn Maintenance Company. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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