Take me to the textShangri$-$La Spa is a sole proprietorship owned by Nikita Kalsi. The company provides a relaxing retreat for people wishing to relax and unwind. During the month of July $2016,$ the following transactions took place.Jul $1$ Provided services to a customer on account worth $$3,930.$Jul $4$ Borrowed $$4,000$ cash from the bankJul $5$ Provided services to a customer and received cash of $$2,820$Jul B Received the telephone bill for $$220$ which will be paid later.Jul $9$ Paid $$7,950$ cash to reduce the amount owed to a supplier Jul $11$ Collected $$1,450$ cash from customers owing on account.Jul $14$ Paid the telephone bill from July $8.$Jul $15$ Paid a portion of the bank loan principal with $$2,000$ cash.Jul $18$ Paid rent for the month with $$2,370$ cashJul $27$ Purchased equipment for $$1,750$ which will be paid laterPrepare the journal entries for the above transactions.Do not enter dollar signs or commas in the input boxes,Date$2016$M$1$Account Title and ExplanationDebitCreditTo record services on accountQ Seaichhp$30$