Demonstranon rrodiem:

Solve the Demonstration problem following the Format of Exhibit $1\mathrm{.}15.$ The Format is available in your Day $3$ material:

After several months of planning, Joanne Cardinal started a haircutting business called The Cutlery. The following business activities occurred during its first month, August $2017$:

A$.$ On August $1,$ Cardinal put $$16,000$ cash into a checking account in the name of The Cutlery. She also invested $$10,000$ of equipment that she already owned.

B$.$ On August $2,$ she paid $$2000$ cash for furniture for the shop.

C$.$ On August $3,$ she paid $$3,200$ cash to rent space in a strip mall for August.

D$.$ On August $4,$ she equipped the shop by installing the old equipment and some new equipment that she bought on credit for $$21,000.$ This amount is to be repaid in three equal payments at the end of August, September, and October.

E$.$ On August $5,$ The Cutlery opened for business. Receipts from services provided for cash in the first week and a half of business $($ended August $15)$ were $$1,100.$

F$.$ On August $15,$ Cardinal provided haircutting services on account for $$750.$

G$.$ On August $17,$ Cardinal received a $$750$ cheque in the mail for services previously rendered on account.

H$.$ On August $17,$ Cardinal paid wages of $$250$ to an assistant for working during the grand opening.

I. On August $18,$ Cardinal interviewed a job applicant. The applicant was successful in getting the position and will receive $$750$ per week for part$-$time work starting in September.

J$.$ Cash receipts from services provided during the second half of August was $$1,950.$

K$.$ On August $31,$ Cardinal paid an installment on the account payable created in $($d$).$

L$.$ On August $31,$ the August hydro bill for $$450$ was received. It will be paid on September $14.$

M$.$ On August $31,$ Cardinal withdrew $$500$ cash for her personal use.