The following transactions occurred for Lexington Engineering: i (Click the icon to view the transactions.) (Click the icon to view the journal entries.) Read the requirements. Requirement 1. Post the transactions to the T-accounts. Use the dates posting references in the T-accounts. We will post to the accounts one transaction at a time. Begin by posting the event from the 2nd. Received $16,000 contribution from Brian Lexington in exchange for common stock. (We will post to the accounts one transaction at a time. P only the transaction from July 2 in this step.) Cash Accounts Receivable Office Supplies Equipment Accounts Payable Notes Payable Common Stock C Dividends Service Revenue Utilities Expense More info Jul. 2 Jul. 4 Jul. 5 Jul. 10 Jul. 12 Jul. 19 Jul. 21 Jul. 27 Received $16,000 contribution from Brian Lexington in exchange for common stock. Paid utilities expense of $460. Purchased equipment on account, $1,700. Performed services for a client on account, $2,200. Borrowed $7,300 cash, signing a notes payable. Cash dividends of $300 were paid to stockholders. Purchased office supplies for $800 and paid cash. Paid the liability from July 5. k. (We Date Jul. 2 Jul. 4 Jul. 5 Jul. 10 Jul. 12 Jul. 19 Jul. 21 Cash Accounts and Explanation Common Stock Issued common stock for cash. Utilities Expense Cash Paid cash expenses. Equipment Accounts Payable Purchase of equipment on account. Accounts Receivable Service Revenue Performed services on account. Cash Notes Payable Borrowed cash by signing note. Dividends Cash Paid cash dividends. Office Supplies Coch Debit 16,000 460 1,700 2,200 7,300 300 800 Credit 16,000 460 1,700 2,200 7,300 300 200 Jul. 19 Jul. 21 Jul. 27 Dividends Cash Paid cash dividends. Office Supplies Cash Purchase of office supplies with cash. Accounts Payable Cash Paid cash on account. 300 800 1,700 300 800 1,700 Requirements 1. The following T-accounts for Lexington Engineering have been opened for you: Cash; Accounts Receivable; Office Supplies; Equipment; Accounts Payable; Notes Payable; Common Stock; Dividends; Service Revenue; and Utilities Expense. Post the transactions to the T-accounts. Use the dates as posting references in the T-accounts. 2. Compute the July 31 balance for each account