Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred.July 3 Jake provides lawn services to Luke’s repair shop on account, $500. July 6 One of Jake’s mowers malfunctions. Luke provides repair services to Jake on account, $450.July 9 Luke pays $500 to Jake for lawn services provided on July 3. July 14 Luke borrows $600 from Jake by signing a note. July 18 Jake purchases advertising in a local newspaper for the remainder of July and pays cash, $110. July 20 Jake pays $450 to Luke for services provided on July 6. July 27 Luke performs repair services for other customers for cash, $800. July 30 Luke pays employee salaries for the month, $300. July 31 Luke pays $600 to Jake for money borrowed on July 14.Required: Record the transactions for Jake’s Lawn Maintenance Company.

Question

Jake owns a lawn maintenance company, and Luke owns a machine repair shop. For the month of July, the following transactions occurred.

July 3 Jake provides lawn services to Luke’s repair shop on account, $500.
July 6 One of Jake’s mowers malfunctions. Luke provides repair services to Jake on account, $450.
July 9 Luke pays $500 to Jake for lawn services provided on July 3.
July 14 Luke borrows $600 from Jake by signing a note.
July 18 Jake purchases advertising in a local newspaper for the remainder of July and pays cash, $110.
July 20 Jake pays $450 to Luke for services provided on July 6.
July 27 Luke performs repair services for other customers for cash, $800.
July 30 Luke pays employee salaries for the month, $300.
July 31 Luke pays $600 to Jake for money borrowed on July 14.

Required:
Record the transactions for Jake’s Lawn Maintenance Company.

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Journal and Ledger Balance

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