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Exercise 2-2 Analyzing transactions LO3, 5 Christina Reis is a photographer who owns Lola Lemon Photography. This is the first month of operations. The
Exercise 2-2 Analyzing transactions LO3, 5 Christina Reis is a photographer who owns Lola Lemon Photography. This is the first month of operations. The following are the transactions for the month of September. a. On September 1, Reis invested $15,000 cash into her new business. b. On September 12, purchased $2,000 of equipment (cameras) on credit. c. On September 13, purchased $500 of equipment (lighting), paying cash. d. On September 18, photographed an engagement session for $1,000; collected cash. e. On September 21, photographed a family session for $700 on credit. f. On September 26, paid $1,000 regarding (b). g. On September 29, collected $300 regarding (e).
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