Required information Problem 2-5A Analyze the impact of transactions on the accounting equation and record transactions (LO2-2, 2-4) [The following information applies to the questions displayed below Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred. July 3 Jake provides lawn services to Luke's repair shop on account, $360. July 6 One of Jake's mowers malfunctions. Luke provides repair services to Jake on account, $310 July 9 Luke pays $360 to Jake for lawn services provided on July 14 Luke borrows $460 from Jake by signing July 18 Jake purchases advertising in a local newspaper for the remainder of July and pays cash, July 3. a note. ces $120 July 20 Jake pays $310 to Luke for services provided on July 6. July 27 Luke performs repair services for other customers for cash, $660. July 30 Luke pays employee salaries for the month, $160. July 31 Luke pays $460 to Jake for money borrowed on July 14. The Accounting Cycle: During the .. Savod Help Saw PInniarm BA FAT Required information wequnu 1. Record each transaction for Luke's Repair Shop. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit July 03 Accounts Receivable Service Revenue 1 360 2 July 06 Accounts Receivable 310 3 July 09 Accounts Payable 360 July 14 Accounts Receivable 460 4 July 18 No Journal Entry Required 310 6 July 20 Accounts Receivable 660 7 July 27 Service Revenue Next >