3366 Homework 2 Mike Bean opens a garden supply shop. During September, the first month of operation, he experienced the following events: 09/01Owner contributes $7,500 in cash to capitalize the business 09/08Purchased $2,500 in garden equipment/supplies on account, payable in 30 days. 09/15Paid first months shop rent of $1,000. 09/17Sold garden equipment that cost $800 for $1,100; collected $400 cash; billed customers for the balance. 09/25Collected $425 from customers on accounts. 09/28Paid $500 to suppliers for parts purchased earlier this month Requirements: 1. Prepare journal entries for the preceding transactions. 2. Prepare income statement for the month ended 09/30/XX 3. Prepare the balance sheet for 09/30/XX