Q3-The following transactions occurred in Thorn Accounting Services Inc. during August 2015 , Its first month of operation. 16 marks Aug. 1 lisued share capital for $3,000 cash. 1 Borrowed $10,000 cash from the barik. 1 Paid $8,000 cash for a used truck. 4 Paid $600 for a one-year truck insurance policy effective August 1. 5 Collected $2,000 fees in cash from a client for work performed todoy. (recorded as Fees Earned). 7 Biled $5,000 fees to clients for services performed to date (recorded as Fees Earned). 9 Paid $250 for supplies used to date. 12. Purchased $500 of supplies on credit (recorded as Unused Supplies). 15 Collected $1,000 of the amount billed on August 7. 16. Paid \$200 for advertising in The News during the first two weeks of August. 20 Paid half of the amount owing for the supplies purchased on August 12 . 25 Paid cash for the following expenses; rent for August, \$350; salaries, $2,150; telephone, $50; truck repairs, $250. 28 Called clients for payment of the balance owing from August 7. 29 Baled $6,000 of fees to clients for services performed to date. (recorded as Fees Earned). 31 Transferred the amount of August's truck insurance ($50) to Insurance Expense. 31 Counted $100 of supplies still on hand (recorded the amount used as Supplies Expense). Required: Prepare journal entries to record the August transactions