H&R Clock Company
the Following Transactions Were Incurred During July

H&R Clock Company
The following transactions were incurred during July 2014:
$\begin{array}{ll} \text { July 1 } & \text { Raised \$ 30,000 by issuing a note to the bank for \$ 15,000 and issuing \$ 15,000 of common stock } \\ \text { July 5 } & \text { Purchased \$ 5,100 of office supplies on credit; payment is due in 30 days. } \\ \text { July 12 } & \text { Performed \$ 18,000 of services for customers on credit; collection is due in 30 days. } \\ \text { July 13 } & \text { Performed services for customers and collected \$ 8,800 . } \\ \text { July 20 } & \text { Paid for the supplies purchased on July 5. } \\ \text { July 22 } & \text { Collected \$ 15,000 of the amounts due from customers. } \\ \text { July 30 } & \text { Received and paid the utility bill for the month of July, \$ 640 . } \\ \text { July 31 } & \text { Paid employee salaries of \$ 3,800 . } \\\end{array}$

-Refer to H&R Clock Company.Set up T-accounts and post each transaction to the T-accounts.