Recording Transactions in Journal Entries and T-Accounts On December 1, 2018, R. Lambert formed Lambert Services, which provides career and vocational counseling services to graduating college students. The following transactions took place during December, and company accounts include the following: Cash, Accounts Receivable, Land, Accounts Payable, Notes Payable, Common Stock, Retained Earnings, Counseling Services Revenue, Rent Expense, Advertising Expense, Interest Expense, Salary Expense, and Utilities Expense. (1) Raised $7,000 cash through common stock issuance. (2) Paid $750 cash for December rent on its furnished office space. (3) Received $500 invoice for December advertising expenses. (4) Borrowed $15,000 cash from bank and signed note payable for that amount. (5) Received $1,200 cash for counseling services rendered. (6) Billed clients $6,800 for counseling services rendered. (7) Paid $2,200 cash for secretary salary. (8) Paid $370 cash for December utilities. (9) Declared and paid a $900 cash dividend. (10) Purchased land for $13,000 cash to use for its own facilities. (11) Paid $100 cash to bank as December interest expense on note payable. Journal entries T-accounts General Journal Description $ Debit Credit (1) $ (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) Cash Accounts Receivable Land Che OF Accounts Payable Notes Payable Common Stock Retained Earnings Counseling Services Revenue Rent Expense Advertising Expense Interest Expense Salary Expense Utilities Expense