Critical Thinking Problem 4.2 (Algo) Start-Up Business On June 1, 20X1, Jenna Davis opened the Leadership Coaching Agency.

wy On June 1, 20X1, Jenna Davis opened the Leadership Coaching Agency, DATE TRANSACTION June 1 Jenna Davis invested $46,000 cash to start the business. 2 Issued Check 201 for $2,260 to pay the June rent for the office. 3 Purchased desk and other office furniture for $13,800 from Lowe's Office Supply, Invoice 5103; issued Check 202 for a $1,900 down payment with the balance due in 30 days. 4 Issued Check 203 for $1,850 for supplies. 6 Performed services for $8,120 in cash. 7 Issued Check 204 for $7,770 to pay for advertising expense. 8 Purchased recording equipment for $15, 150 from Special Moves, Inc., Invoice 2122; issued Check 205 for a down payment of $5,400 with the balance due in 30 days. 10 Performed services for $6,050 on account. 11 Issued Check 206 for $3,240 to Lowe's Office Supply as payment on account. 12 Performed services for $11,200 in cash. 15 Issued Check 207 for $5,210 to pay an employee's salary. 18 Received payments of $3,440 from credit clients on account. 20 Issued Check 208 for $6,600 to Special Moves, Inc., as payment on account 25 Issued Check 209 in the amount of $440 for the monthly telephone bill. 27 Issued Check 210 in the amount of $860 for the monthly electric bill. 28 Issued Check 211 to Jenna Davis for $4,400 for personal living expenses. 30 Issued Check 212 for $5,950 to pay the salary of an employee. Required: 1. Prepare the journal entries for the above transactions. 2. Post the above transactions to the ledger accounts. 3. Prepare a trial balance. 4. Prepare the income statement 5. Prepare a statement of owner's equity. 6. Prepare the balance sheet. Analyze: How many postings were made to the Cash account?