Record the journal entries in order as presented in the problem.

At June 30, 2018, the end of its most recent fiscal year, River Consultants Ltd. 's post-closing trial balance was as follows: Debit Credit Cash Accounts receivable Supplies Accounts payable Income tax payable Unearned revenue Common shares Retained earnings $15,700 1,300 700 $300 400 1,000 3,400 12,600 $17,700 $17,700 The company underwent a major expansion in July. New staff was hired and more financing was obtained. River conducted the following transactions during July 2018 July 3 Issued $11,000 of common shares for cash. 4 Purchased insurance coverage for a year, $3,960 5 Paid the first two (July and August 2018) months' rent for an annual lease of office space for $3,700 per month. (Hint: Use the Prepaid Rent account.) 6 Purchased $3,800 of supplies for cash. 6 Purchased equipment, paying $4,400 cash and signing a two-year bank loan for $19,600. The equipment has a four-year useful life. The bank loan has a 6% interest rate, which is payable on the first day of each following month 10 Visited client offices and agreed on the terms of a consulting project. River will invoice the client, Connor Productions Ltd., on the 19th of each month for work performed. 12 Collected $1,300 on account from Milani Brothers Ltd. This client was invoiced in June when the service was provided 13 Completed services for Mactaquac Inc. This client paid $1,000 in advance last month. All services relating to this payment are now completed. (Hint: Use the Fees Earned account.) 16 Paid salaries for the first half of the month, $11,100 17 Paid a utility bill of $300. This related to June utilities that were accrued at the end of June 18 Met with a new client, Bay Technologies. Received $11,600 cash in advance for future work to be performed 19 Invoiced Connor Productions for $27,500 of consulting fees provided on account. (Hint: Use the Fees Earned account.) 20 Received an invoice for legal advice, $2,000. The amount is not due until August 20. (Hint: Use the Professional Fees Expense account.) 23 Completed the first phase of the project for Bay Technologies Ltd. Recognized $10,100 of revenue from the cash advance previously received (see July 18 transaction) 25 Paid $400 income tax payable owing at the end of June, in addition to $1,000 for the July income tax instalment. 27 Received $15,700 cash from Connor Productions in partial payment of the invoice issued on July 19 30 Declared and paid a $5,000 dividend