Kingbird Repair Shop had the following transactions during the first month of business as a proprietorship. Journalize the transa (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indente when amount is entered. Do not indent manually. List all debit entries before credit entries.) Aug. 2 7 12 Invested $11,120 cash and $2,460 of equipment in the business. Purchased supplies on account for $510. (Debit asset account.) Performed services for clients, for which $1,325 was collected in cash and $707 was billed to the clients. Paid August rent $543. 15 19 Counted supplies and determined that only $294 of the supplies purchased on August 7 are still on hand.