Question 4 (22 marks) Listed are the July 2019 transactions for Lonestar Incorporated. Using the journal entry template provided below, prepare the journal entries: May 1: Issued common shares in exchange for cash of $45,000 and equipment of $80,000. May 5: Purchased office supplies of $800 on account. May 10: Performed services of $9,800 on account. May 12: Performed services of $7,000; received $4,000 in cash with the remainder on account. May 15: Paid $1,800 in salaries. May 17: Performed services of $6,000 for cash. May 25: Collected customer payment of $3,000 from services performed on May 12th. May 31: Paid $750 in utilities. May 31: Remitted payment to vendor for office supplies purchased on May 5th. May 31: Paid monthly utilities of $5,000 and rent of $9,500