Use the following information to answer Exercises E-F:2-17 and E-F:2-18. The following transactions occurred for Molina Engineering: Jul. Received $10,000 contribution from Ruby Molina in exchange 2 for common stock. 4 Paid utilities expense of $400. LO 5 10 Performed services for a client on account, $2,000. Purchased equipment on account, $2,100. 12 Borrowed $7,000 cash, signing a notes payable. 19 21 Paid cash dividends of $500 to stockholders. Purchased supplies for $800 and paid cash. 27 Paid the liability from July 5.

Use the following information to answer Exercises E-F:2-17 and E-F:2-18. The following transactions occurred for Molina Engineering: \begin{tabular}{|r|l|} \hline Jul. & Received$10,000contributionfromRubyMolinainexchangeforcommonstock. \\ \hline 4 & Paid utilities expense of $400. \\ \hline 5 & Purchased equipment on account, $2,100. \\ \hline 10 & Performed services for a client on account, $2,000. \\ \hline 12 & Borrowed $7,000 cash, signing a notes payable. \\ \hline 19 & Paid cash dividends of $500 to stockholders. \\ \hline 21 & Purchased supplies for $800 and paid cash. \\ \hline 27 & Paid the liability from July 5. \\ \hline \end{tabular} Journalize the transactions of Molina Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Supplies; Equipment; Accounts Payable; Notes Payable; Common Stock; Dividends; Service Revenue; and Utilities Expense