prepare journal entires

Sally Golfo, a registered nurse, opens a business called Sally's Elder Care. Golfo plans to care i elderly herself in a facility that she will rent. The following transactions occurred during July 2019, her first month in business. Analyze these transactions on a worksheet similar to that illustrated in the text (Table 15-7). You will need columns for Cash, Accounts receivable, Prepaid rent, Furniture, Notes payable, Accounts payable, a blank column for use with P15-49, and Sally Golfo, Capital. P15-48. (Analyzing transactions on a worksheet) July 1 She borrowed $20,000 from the bank to provide her with additional cash. She agreed to repay the bank $1,000 on the last day of every month, starting July 31, with interest at the rate of 6 percent a Ms. Golfo invested $5,000 of her own money to start the business. year on the unpaid balance. She rented the house next to hers for a 3-month period, paying a total of $6,000, to provide a facility 1 to care for her patients. 1 She purchased funiture for the facility, She received an invoice for $4,800, payable in 10 days. 10 She paid the $4,800 invoice for the furniture. She paid her assistant $800 for 2 weeks' work During the month, sho billed her clients $12,000 for services rendered. 18 20 She received $9,000 in cash from the clients who were previously billed 25 30 At month-end, sho received a bill for electric service in the amount of $300. She will pay the bill in August. During the month, she paid $500 for food to provide lunch to her clients. (Hint: For this problem, consider the food as an expense when it is purchased.) She paid the bank $1,100 on the borrowing. Of that amount, $1,000 was for the principal payment on the loan, and $100 was for interest. 30 31