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Charli retired after 2 0 years of working in the logistics industry. Charli decides it would be fun to become a dog groomer and open

Charli retired after 20 years of working in the logistics industry. Charli decides it would be fun to become a dog groomer and open her own shop called "Chali's Grooming." She will run the business out of her home for the first couple of months while she identifies a new location for her store.
Since her prior career included years of logistics, she is also going to operate a consulting practice where she will help others create a grooming practice. She will charge a flat fee or a per hour charge. Her consulting practice will be recognized as service revenue and will provide additional revenue while she develops her grooming practice.
She obtains a groomer's license after the required training and is ready to open her shop on August 1. The following are the transactions from the first month of business:
Date
Transaction
Aug. 1
Aug. 3
Aug. 3
Aug. 6
Aug. 10
Charli issues shares of common stock in exchange for $70,000 cash.
Charli purchases grooming equipment for $45,000;$37,500 was paid immediately with cash, and the remaining $7,500 was billed to Charli with payment due in 30 days. She decided to buy used equipment because she was not sure if she truly wanted to run a grooming business, She assumed that she will replace the used equipment with new equipment within a couple of years.
Charli purchases supplies for $300 cash.
Charli provides $4,000 in services to a customer who asks to be billed for the services.

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