?

S. Lyon, a graphic artist, opened a studio for her professional practice on August 1. The accoupt headings are presented below. Transactions completed during the month follow. PrepaidOrficePhotoAssets=Accounts,Llabilities+ActoOwnersEquity Cash + Supplies + Imsurance + Equipment + Equipment = Payable + Capitat - Drawing + Revenue - Expenses a. Lyon deposited $34,000 in a bank, account in the name of the business; b. Bought otfice equipenent on account from Starkey Equipenent Compary, $4,310. c. Lyon invested her personal photographic equiprent, $6,010, in the business. (tincrease the account Photo Equipment ard increase the account $, Lyon, Capical) d. Paid the rent for the month, $2,800,CK. No. 1000 (Rent Expense). e. Bought supplies for cash, $295, Ck. No. 1001. t. Bought insurance for two years, $2,180, CK. No. 1002 . 9. Sold graphic services for cash, $3,550 (Prolessional fees). b. Paid the salary of the part-time assistant, 3986 , CK. No. 1003 (5alary Expense). 1. Received and pad the ba for telephone service, 5172,CK. No, 1004 (felephone Expense). 1. Pald cash for minar repairs to graphies equipenent, $245, Ck. No. 1005 (Repair Expense). k. Sold graphic services for cash, $3,786 (Professional Fees). L. Paid on actount to Starkey Equipment Company, \$690, CK. No. 1006. m. Lyon withdrew cash for personal use, $3,300, , No. 1007 . Required: 1. Record the transactions and the balance after each transaction. 2. After all transactions have been entered, enter the total assets and the total labeities plus owner's equity in the entry boxes bebow the transactions. If the tea totals are not equal, check the addition and sobtraction. If you still cannot find the error, re-analyze each transaction. Enter increases to accounts af positive amounts and decreases to accounts as nogative amounts. If an amount box does not require an entry, leave it blank or enter ins