The following transactions occurred for Lawrence Engineering:

Requirements 

1. Open the following T-accounts for Lawrence Engineering: Cash; Accounts Receivable;
Office Supplies; Equipment; Accounts Payable; Notes Payable; Common Stock; Dividends; Service Revenue; and Utilities Expense.
2. Post the journal entries to the T-accounts. Also transfer the dates to the T-accounts.
3. Compute the July 31 balance for each account.

Transcribed Image Text:

Jul. 2 Received $14,000 contribution from Brett Lawrence in exchange for common stock. 4 5 10 12 19 21 27 Paid utilities expense of $370. Purchased equipment on account, $1,600. Performed services for a client on account, $2,900. Borrowed $7,100 cash, signing a notes payable. Cash dividends of $200 were paid to stockholders. Purchased office supplies for $840 and paid cash. Paid the liability from July 5.