Part 1:  Cathy Forth Photography Services  (20 marks)You have been hired by Cathy Forth as her new bookkeeper. She has given you the following information:  Use the current date and provide an appropriate explanation.  

Sept 1      Cathy Forth  invested $12,000 cash and $800 worth of photo supplies in a new photography business

Sept 3      Purchased studio equipment from Best Pics Co. $3,500 cash

Sept 5      Received $550 cash for her first photographic session 

Sept 6      Cathy took home $50 worth of photo supplies to use as a gift for her niece's birthday

 

Required: 

Journalize the above entries. (12 marks)

Post the journal entries to the ledger. (8 marks)