Homework answers / question archive / After operating for several months, artist Paul Marciano completed the following transactions during the latter part of June: June 15: Borrowed $25,000 from the bank, signing a note payable

After operating for several months, artist Paul Marciano completed the following transactions during the latter part of June: June 15: Borrowed $25,000 from the bank, signing a note payable

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After operating for several months, artist Paul Marciano completed the following transactions during the latter part of June:

June 15: Borrowed $25,000 from the bank, signing a note payable.

June 22: Painted a portrait for a client on account totaling $9,000.

June 28: Received $5,000 cash on account from clients.

June 29: Received a utility bill of $ 600, which will be paid during July.

June 30: Paid monthly salary of $2,500 to gallery assistant.

Journalize the transactions of Paul Marciano, Artist. Include an explanation with each journal entry.