Question 4 Listed are the July 2019 transactions for Lonestar Incorporated. (19 marks). Using the journal entry template provided below, prepare the journal entries: Aug 1: Issued common shares in exchange for cash of $55,000. Aug 1: Paid monthly utilities of $1,000. Aug 7: Purchased equipment for $12,000 on account. Aug 14: Performed services of $10,000; received $1,000 in cash with the remainder on account. Aug 16: Paid $500 for supplies Aug 19: Performed services of $1,800 on account Aug 27: Collected customer payment of $9,000 from services performed on Aug 14. Aug 31: Paid $1,400 in Rent Aug 31: Remitted payment to vendor for the equipment purchased on Aug 7