Journalize the following transactions. Include dates and a brief explanation for each journal entry.
July 1: Issued common stock for $10,000
July 5: Sold services on account for $5,000
July 9: Purchased office supplies on account for $500
July 10: Sold services for cash of $2,100
July 12: Received payment in full for services sold on account from July 5 July 24: Paid in full for office supplies purchased on July 9
July 25: Received and paid monthly electric bill of $200
July 30: Signed a note payable to purchase office furniture for $3,500
July 31: Paid monthly payroll of $3,000