Prepare journal entries

July 1 Purchased new dental equipment on account from Green Co. 16,540 July 1 Paid rent payment. Business pays for rent quarterly (July-September). 1,950 July 1 9,000 Borrowed short-term loan from the bank. Annual interest rate is 5%. Interest and principal are $ due on January 1, 2022. July 2 Paid June salaries. $ 5,250 July 6 Purchased office supplies. $ 835 July 9 Received cash from patients for services performed so far in July. $ $ 3,940 July 12 Paid off some of the accounts payable balance. $ $ 4,400 July 15 Issued new common stock to owner/shareholder, Dr. Molar. $ $ 2,000 July 19 Received cash in advance from customer for future dental services. $ 600 July 26 Received payment from patient for prior services performed. $ 1,920 July 28 Paid the following: ABC Marketing for TV advertisement Omaha Mutual for July insurance OKC Electric for July utilities $ $ $ 900 550 300 July 30 Paid dividend to Dr. Molar. $ 1,000