Reference no: EM132091460

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.