The Forest Spa is a sole proprietorship owned by Michelle Major. The company provides a relaxing retreat for people wishing to relax and unwind. During the month of July 2019, the following transactions took place. Jul 2 Borrowed $5,000 cash from the bank Jul 3 Purchased equipment for $4,000 cash. Jul 6 Provided services to a customer and received cash of $3,030. Jul 8 Paid rent for the month with $1,530 cash Jul 9 Provided services to a customer on account worth $4,310. Jul 11 Collected $1,260 cash from customers owing on account. Jul 13 Paid $600 cash to reduce the amount owed to a supplier Jul 15 Received the telephone bill for $110 which will be paid later. Jul 24 Paid a portion of the bank loan principle with $1,000 cash Jul 26 Received the maintenance bill for $2,500 which will be paid later. Prepare the journal entries for the above transactions