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The following transactions occurred for Laughton Engineering A Click the icon to view the transactions.) Journalize the transactions of Laughton Engineering. Include an explanation with
The following transactions occurred for Laughton Engineering A Click the icon to view the transactions.) Journalize the transactions of Laughton Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Office Supplies; Equipment, Accounts Payable; Notes Payable; Common Stock; Dividends, Service Revenue; Utilities Expense. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) July 2: Received $17,000 contribution from Rob Laughton in exchange for common stock. More Info Date Accounts and Explanation Debit Credit Jul. 2 Jul. 2 Received $17,000 contribution from Rob Laughton in exchange for common stock. 4 Paid utilities expense of $370. 5 Purchased equipment on account, $1,500. 10 Performed services for a client on account, $2,200. 12 Borrowed $6,500 cash, signing a notes payable. 19 Cash dividends of $350 were paid to stockholders. 21 Purchased office supplies for $800 and paid cash. 27 Paid the liability from July 5. Print Done
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