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On September 1, 2020 Fauci Company had the following account balances: Cash $22,000; Accounts Receivable $38,000; Supplies $2,000; Equipment $48,000, Accounts Payable $23,000. The following

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On September 1, 2020 Fauci Company had the following account balances: Cash $22,000; Accounts Receivable $38,000; Supplies $2,000; Equipment $48,000, Accounts Payable $23,000. The following transactions occurred in sequence during September: A) Sent out bills to clients for work done, $2,500. B) Received checks $6,000 for clients for work previously completed. C) Received $1,250 from a client for work immediately done. D) Received a check for $1,700 as an advance payment. E) Paid on overdue bill, $965. F) Paid personal expenses from the business checking account, $5,600. G) Received a bill from Lab Test Corp, which analyzes blood samples, $550. Fauci will pay this bill next month. H) Bought a computer on account, $1,200. 1) Paid the following: September rent, $3,700 and the telephone bill, $250. J) A physical count of the supplies on September 30 indicates $450 remain on hand. Required: 1) What was the Capital balance on September 1, 2020 (the opening owner's equity amount)? 2) Prepare the journal entries for "A" through "1

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