Question: Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred.
July 3 Jake provides lawn services to Luke's repair shop on account, $400.
July 6 One of Jake's mowers malfunctions. Luke provides repair services to Jake on account, $350.
July 9 Luke pays $400 to Jake for lawn services provided on July 3.
July 14 Luke borrows $500 from Jake by signing a note.
July 18 Jake purchases advertising in a local newspaper for the remainder of July and pays cash, $100. July 20 Jake pays $350 to Luke for services provided on July 6.
July 27 Luke performs repair services for other customers for cash, $700.
July 30 Luke pays employees' salaries for the month, $200.
July 31 Luke pays $500 to Jake for money borrowed on July 14.
Required: Record the transactions for Jake's Lawn Maintenance Company.