After operating for several months, architect Donovan Freeman completed the following transactions during the latter part of July:

Journalize the transactions of Donovan Freeman, Architect. Include an explanation with each journal entry.

Borrowed $64,000 from the bank, signing a note payable. Jul 15 Performed services on account for clients totaling $17,300. 28 Received $16,000 cash on account from clients. 29 Received and paid a utility bill of $1,800. Paid monthly salaries of $10,000 to employees. 22 31