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Joumalize the transactions of Lambert Engineering. Include an explanation with each journal entry. Use the following accounts: Cash: Accounts Receivable: Office Supplies; Equipment, Accounts Payable;
Joumalize the transactions of Lambert Engineering. Include an explanation with each journal entry. Use the following accounts: Cash: Accounts Receivable: Office Supplies; Equipment, Accounts Payable; Notes Payable, Comm Stock, Dividends, Service Revenue; Utilities Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) More Info Jul. 2 Received $18,000 contribution from Sam Lambert in exchange for common stock 4 Paid utilities expense of $370 5 Purchased equipment on account, $1,900 10 Performed services for a client on account, $2,100. 12 Borrowed 57,600 cash, signing a notes payable 19 Cash dividends of $400 were paid to stockholders. 21 Purchased office supplies for $790 and paid cash. 27 Paid the liability from July 5
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