Problem 4-1 The following are September transactions for Lila Company. Sep. 1 Issued common shares for $3,000 cash Sep. 1 Borrowed $10,000 cash from the bank Sep. 1 Paid $8,000 cash for a used truck Sep. 3 Signed a contract with a customer to do a $15,000 job beginning in November Sep. 4 Paid $600 for a one-year truck insurance policy effective September 1 Sep. 5 Collected fees of $2,000 for work to be performed in September and October Sep. 7 Billed a client $5,000 for services performed today Sep. 9 Paid $250 for supplies purchased and used today Sep. 12 Purchased $500 of supplies on credit Sep. 15 Collected $1,000 of the amount billed August 7 Sep. 16 Paid $200 for advertising in The News that ran the first two weeks of September Sep. 20 Paid $250 of the amount owing regarding the credit purchase of September 12 Sep. 25 Paid the following expenses: rent for September, $350; salaries, $2,150; telephone, $50 Sep. 28 Called clients for payment of the balances owing from September 7 Sep. 31 Billed a client $6,000 for services performed today Required: Prepare journal entries in good form for each of the above transactions concerning the business of Lila Company. Use General Journal report presented in the chapter.