1. 2018 Agatha's Salon and Spa is a sole proprietorship that began operations on December 1, 20 The owner, Agatha Blackstone, is one of the beauticians, other beauticians also work from this location by renting space from Agatha. Instructions Your responsibility is to prepare financial statements for Agatha's Salon and Spa for the first month of operation. 1. Record the month's financial transactions in the General Ledger (T-Accounts). Then you will create a Trial Balance, Record the Adjusting Entries. Create an Adjusted Trial Balance, Income Statement, Statement of Owner's Equity, and Balance Sheet. Financial Transactions December 1 Agatha began the business by contributing $45,000 in cash and $145,000 in equipment. December 2 Three other beauticians rented space from Agatha for $400 per month. A total of $1200 in rent revenue was collected for December rent. December 3 Salon Supplies were purchased on account for $1250. December 4 Agatha's Salon opened for business and Agatha earned and collected $250 from clients for salon services. . December 5 Paid the advertising bill for $240. December 7 Paid the utility bill for $350. December 9 Purchased Insurance for the next two years from Casualty Insurance Company $2400. December 11 Agatha deposited $577 collected from clients for salon services. December 15 Agathat withdrew $500 for personal use. December 18 Agatha deposited $1200 collected from clients for salon services December 20 Paid the telephone bill for 149.00. December 21 Agatha performed salon services for $225 for a wedding party and is allowing them to pay her next month. December 25 Agatha deposited $850 collected from clients for salon services. December 31 Agatha deposited $640 collected from clients for salon services