Record journal entries for each of the following transactions.

1. On Aug. 1, Martin Johnson invests $425,000 to open his new appliance repair business.

2.On Aug. 3, the company pays $150,000 for land and $70,000 for a building.

3.On Aug. 5, Martin repairs appliances for three customers. Two of these paid cash totaling $825, while thethird customer was billed $300, but has not yet paid.

4.On Aug. 8, the company purchases radio advertisements for $3,000.

5.On Aug. 11, the company purchases a car for $23,000 by taking out an automobile loan.

6.On Aug. 15, Martin repairs appliances for two customers, receiving a total of $500 in cash.

7.On Aug. 20, the company makes its first automobile loan payment of $475.

8.On Aug. 21, the company pays $350 for utilities expense.