The company underwent a major expansion in July. New staff was hired and more financing was obtained. Sheffield conducted the following transactions during July 2017, and adjusts its accounts monthly. Please write the journal entries for the following:

July 1- Purchased equipment, paying $4,000 cash and signing a 2-year note payable for $21,200. The equipment has a 4-year useful life. The note has a 6% interest rate which is payable on the first day of each following month.

July 3- Paid the first 2 (July and August 2017) months rent for an annual lease of office space for $4,200 per month.

July 13- Performed services for Fitzgerald Enterprises. This client paid $1,190 in advance last month. All services relating to this payment are now completed

July 14- Paid $420 cash for a utility bill. This related to June utilities that were accrued at the end of June.