- X More info Jul. 2 Received $8,000 contribution from Brian Lambert in exchange for common stock. acc Exp Jul. 4 Paid utilities expense of $400. Jul. 5 Purchased equipment on account, $2,500. Jul. 10 Performed services for a client on account, $2,600. Jul. 12 Borrowed $7,100 cash, signing a notes payable. Jul. 19 Cash dividends of $650 were paid to stockholders. Jul. 21 Purchased office supplies for $840 and paid cash. Jul. 27 Paid the liability from July 5. Print DoneThe following transactions occurred for Lambert Engineering: .(Click the icon to view the transactions.) Journalize the transactions of Lambert Engineering. Include an explanation with each journal entry. Use the following accounts: Cash; Accounts Receivable; Ofce Supplies; Equipment; Accounts Payable; Notes Payable; Common Stock; Dividends; Service Revenue; and Utilities Expense. (Record debits rst, then credits. Select the explanation on the last line of the journal entry table.) July 2: Received $8,000 contribution from Brian Lambert in exchange for common stock. Accounts and Explanation Jul. 2