Prepare the journal entries to record the following transactions for Fennys Spa in August 2020. Narrations are required.

August	5	Fenny purchased equipment for $1,800 and paid 40% deposit. The remaining balance will be paid to the supplier next month.
	12	Fenny provided service for $1,200 and received $500 gift card. The remaining balance is on credit.
	18	Fenny paid the electricity bill of $850. The bill was received and recorded in January 2020.
	25	Fenny received cash of $600 for service provided and recorded in January.
	28	Fenny paid the annual insurance premium of $1,500.