Question - The following transactions occurred for London Engineering:
Jul 2 Paid utilities expense of $400.
Jul 5 Purchased equipment on account, $2,100.
Jul 10 Performed service for a client on account, $2,000.
Jul 12 Borrowed $7,000 cash,signing a note payable.
Jul 19 Sold for $29,000 land that had cost this same amount.
Jul 21 Purchased supplies for $800 and paid cash.
Jul 27 Paid the liability from July 5.
Requirement - Identify and perform the three steps to record the previously described transactions.