H chage 2 in das activity 0) Roded Vie p Search (Alt- File Home insert Page Layout Formulas Data Review View Help PROTECTED VIEW Beachstom the net can let need ditted w PRODUCT NOTICE saltanatate. To get without antemationacate before 21202 Activate 117 WIND SINGH D 2 Comments 0 Share D Demonstration Problem Sept. 1 2 3 a Katrina Aung opened Katrina's Catering on September 1, 2021. During the first month of operations, the following transactions occurred: Invested $15,000 cash and cooking equipment worth $5,000 in the business. Paid $1,000 cash for rent for the month of September. Borrowed $15,000 cash from the bank and signed a $15,000, 6-month, 5% note payable. Received a bill for $300 from The Daily News for advertising the opening of the catering company. Billed a nearby law firm $500 for catering services performed on account. Withdrew $700 cash for personal use. 3 Purchased an industrial oven for $20,000 cash. Paid $1,200 for a one-year insurance policy. 10 15 20 25 29 Received $300 cash from the lane firm billed on September 15. The balance of the account will be collected in October Received a $400 cash advance from a customer for services to be performed in October. 30 Cash receipts for catering services performed for the month were $6,200. 30 Paid employee salaries of $1,600. 30 Paid The Daily News $200 of the amount owed from the bill received September 10. The chart of accounts for the company is the same as the one for Lynk Software Services in Illustration 2.21 except for the following: No. 610 Advertising Expense and the names of the capital and drawing accounts. Instructions a. Journalize the September transactions. b. Open ledger accounts and post the September transactions. e. Prepare a trial balance at September 30, 2021 d. Prepare an income statement, statement of owner's equity, and balance sheet for Katrina's Catering 29 Instructions SIMMARY DEMO DEMO SOLN 123 PZSA PREA 2:34 2.344 Q tration 2.21 LYNK SOFTWARE SERVICI Chart of Accounts 101 Cash 112 Assets Accounts Receivable 129 Supplies 130 Prepaid Insurance 151 Equipment 152 Accumulated Depreciation-Equipm Liabilities 200 Notes Payable 201 Accounts Payable 209 Unearned Revenue 212 Salaries Payable 230 Interest Payable Owner's Equity 101 T. Jacobs, Capital 306 T. Jacobe, Drawings 350 Income Summary Revenues 400 Service Revenue Expenses Depreciation Expense ING 32 PM 2833-4-30