Purchased equipment, paying $ 4,800 cash and signing a 2-year note payable for $ 21,600. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month. 2 Issued 21,600 shares of common stock for $ 54,000 cash. 3 Paid $ 3,600 cash for a 12-month insurance policy effective July 1. 3 Paid the first 2 (July and August 2017) months rent for an annual lease of office space for $ 4,300 per month. 6 Paid $ 4,100 for supplies. 9 Visited client offices and agreed on the terms of a consulting project. Sheffield will bill the client, Connor Productions, on the 20th of each month for services performed. 10 Collected $ 1,300 cash on account from Milani Brothers. This client was billed in June when Sheffield performed the service. 13 Performed services for Fitzgerald Enterprises. This client paid $ 1,210 in advance last month. All services relating to this payment are now completed. 14 Paid $ 430 cash for a utility bill. This related to June utilities that were accrued at the end of June. 16 Met with a new client, Thunder Bay Technologies. Received $ 13,000 cash in advance for future services to be performed. 18 Paid semi-monthly salaries for $ 11,900. 20 Performed services worth $ 30,200 on account and billed customers. 20 Received a bill for $ 2,400 for advertising services received during July. The amount is not due until August 15. 23 Performed the first phase of the project for Thunder Bay Technologies. Recognized $ 10,800 of revenue from the cash advance received July 16. 27 Received $ 16,200 cash from customers billed on July 20.