prepare journal entries(debit and credit) for each transaction.

The following transactions of Larson Services Inc. occurred during August 2015 , its first month of operations. Aug. I Issued share capital for $3,000 cash 1 Borrowed $10,000 cash from the bank 1 Paid $8,000 cash for a used truck 3 Signed a contract with a customer to do a $15,000 job beginning in November 4 Paid $600 for a one-year truck insurance policy effective August 1 5 Collected fees of $2,000 for work to be performed in September 7 Billed a client $5,000 for services performed today 9 Paid $250 for supplies purchased and used today 12 Purchased $500 of supplies on credit 15 Collected $1,000 of the amount billed August 7 16 Paid \$200 for advertising in The News that ran the first two weeks of August 20 Paid $250 of the amount owing regarding the credit purchase of August 12 25 Paid the following expenses: rent for August, \$350; salaries, $2,150; telephone, $50; truck operation, $250 28 Called clients for payment of the balances owing from August 7 31 Billed a client $6,000 for services performed today 31$500 of the amount collected on August 5 has been earned as of today