Lift Spa is a sole proprietorship owned by Angela Bailey. The company provides a relaxing retreat for people wishing to relax and unwind. During the month of December 7016, the following transactions took place Dec ? Borrowed $5,000 cash from the bank. Dec 3 Purchased equipment for $4,000 cash. Dec 5 provided services to a customer and received cash of $7,310. Dec 8 Faid salaries for the month with $1,950 cash. Dec 10 Provided services to a customer on account worth $4,520. Dec 17 collected $1,470 cash from customers owing on account. Dec 14 Paid $560 cash to reduce the amount owed to a supplier. Dec 15 Received the telephone bill for $160 which will be paid later. Dec 17 Faid a portion of the bank loan principle with $1,000 cash. Dec 27 Received the maintenance bill for $1,050 which will be paid later. Prepare the journal entries for the above transactions. Date Account Title and Explanation Debit Credit 2016