Mackenzie Boyd had finally saved up enough money to start her own hair salon. She found a great location and incorporated her business "Kenzie Kair Corporation".

The company will you ASPE, have a December $31$ year end, prepare adjusting entries monthly and will use a periodic inventory system $($for inventory it sells$).$

The following transactions took place in the first two $(2)$ months, August and September, of

operations:

$1)$ August $1,$ The company issued $200$ common shares to Mackenzie for $$200$ total.

$2)$ August $1,$ Mackenzie loaned the company $$25,000.$

$3)$ August $15,$ The company signed a two $(2)$ year lease. The lease will require payments of rent

of $$3,000$ per month and commences September $1$st$.$ A security deposit of $$3,000$ plus first month's rent are due on September $1$st$.$

$4)$ August $16,$ Mackenzie orders furniture and fixtures $($styling chairs, mirrors, cash register, etc.$)$ totaling $$6,000$ to be delivered September $1$st$.$ This amount is to be paid on account.

$5)$ August $17,$ Mackenzie orders supplies for use in the business $($shampoo$,$ conditioner,colouring, etc.$)$ totalling $$2,500$ to be delivered September $1$st$.$ This amount is to be paid on account.

$6)$ August $18,$ Mackenzie places an advertisement on "Indeed" to hire hairstylists and colouring specialists. The advertisement costs $$90$ and required an Interac e$-$Transfer payment before the advertisement would be posted. The advertisement should be posted on August $20$th$.$Mackenzie made the e$-$Transfer from the bank$/$cash account.

$7)$ August $28,$ Mackenzie interviews potential candidates for jobs and decides to hire $2$ employees. The employees will start on September $6$th and will be paid $$25$ per hour.

Payroll will be paid bi$-$weekly.

$8)$ September $1,$ Mackenzie pays the rent and security deposit.

$9)$ September $1,$ the furniture and fixtures were delivered. The invoice states the amount owing is due $1/20$ net $30($from the September $1$st date$).$

$10)$ September $1,$ the supplies were delivered. The amount owing is due September $15.$

$11)$ September $6,$ the hair salon opens for business.

$12)$ September $7,$ Mackenzie orders products $($merchandise inventory$)$ to sell to customers. They are delivered the same day $($Sept $7)$ and are paid for with $$3,000$ cash.

$13)$ September $10,$ Mackenzie totals up the revenue earned from services for the week and it equals $$7,500$ cash. Mackenzie takes this money to the bank and deposits it$.$

$14)$ September $11,$ the furniture and fixtures amount from September $1$ are paid.

$15)$ September $15,$ the supplies amount from September $1$ are paid.

$16)$ September $16,$ Mackenzie pays her two employees their payroll for the week ending September $10.35$ hours each x $$25$ per hour. Assume no remittances for income taxes, CPP$,$ or EI are required.

$17)$ September $17,$ Mackenzie totals up the revenue earned from services for the week and it totals $$9,500$ cash. The revenue earned from selling product totals $$600$ cash $($cost of the product was $$250).$ Mackenzie takes this money to the bank and deposits it$.$

$18)$ September $19,$ Mackenzie receives the utility bill for September $1-15.$ The bill totals $$350$ and is due October $5.$

$19)$ September $24,$ Mackenzie totals up the revenue earned from services for the week and it totals $$7,900$ cash. The revenue earned from selling product totals $$620$ cash $($cost of the product was $$270).$ Mackenzie also noted there was additional cash of $$100$ for the sale of a gift card. Mackenzie takes this money $($$$8,620)$ to the bank and deposits it$.$

$20)$ September $30,$ Mackenzie pays her two employees their payroll for the $2$ weeks ending September $24.70$ hours each x $$25$ per hour. Assume no remittances for income taxes, CPP$,$or EI are required.

$21)$ September $30,$ Mackenzie counts the inventory and supplies and determines the cost of inventory $($for sale$)$ totals $$2,400$ and supplies inventory totals $$1,100.$

separate section:

a$)$ Prepare $($write out$)$ the journal entries and adjusting journal entries for the transactions

noted above. If no journal entry is required please state $"$no entry". No journal entry

descriptions are required.

b$)$ Post the entries to t$-$accounts.

c$)$ Prepare a trial balance. You may use the single column or double column approach