On July 1, 2021, Sheffield Limited received an 18-month loan for $47,900 from a bank at 6% and with these funds and another $11,200 cash, purchased a vehicle for $59,100. Prepare the journal entries to record each of the following on Sheffields books:

(a)

The purchase of the vehicle on July 1, 2021. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered.