W July 2023 Transactions Date Description of the Transaction July 1 Borrow $35,000.00 from 1st Bank by signing a 24 month note. (As an example of how to journalize and post a transaction-this transaction has already been entered into the General Journal and posted to the General Ledger.) July 1 Receive $65,900.00 cash from new investors, and issue $65,900.00 of Common Stock to them. July 1 Purchase $68,700.00 of new mowing equipment, paying cash to the mower dealer. July 1 Pay $500.00 cash for the July truck rental. July 3 Invoice a new customer $4,480.00 for a completed mowing job - customer will pay in 10 days. July 5 The Board of Directors declares a cash dividend. The total amount of the dividend is $32,000.00 The Date of Record is set as July 15. The Date of Payment is set as July 31. July 7 Pay the employees $5,650.00 for work performed during the 1st week of July. July 10 Complete a mowing job for a new customer-customer pays $6,800.00 cash for the job. July 12 Collect $3,500.00 cash from the golf course for special rush mowing job completed on May 31. July 14 Pay the employees $6,500.00 for work performed during the 2nd week of July July 15 Purchase $2,825.00 of supplies from the mower dealer. The supplies are consumed immediately Lenny's will pay the mower dealer for the supplies in about 2 weeks. July 15 Collect $4,480.00 on account. The cash that is received is from the new customer for the job that was completed on July 3 July 17 One of the original mowers purchased in January of 2022 broke down and is repaired by the mower dealer. The cost of the Mower Repair job is $805.00 Lenny's will pay the mower dealer in 30 days. July 19 Purchase for cash $25,250.00 of supplies. These supplies will be consumed over the next 12 months. July 20 Collect $30,000.00 from the property management company for work performed in June. July 21 Pay the employees $7,050.00 for work performed during the 3rd week of July