SHA Caf had the accompanying balance sheet accounts, July 312018. Assets Liab. & Stockholders' Equity $ 22,000 37,000 131,000 4,000 $60,000 Accounts Payable Paid-in Capital Retained income Accounts Receivable Inventory Prepaid rent Store equipment Less: Accumulated Depreciation $111,000 40,000 79,000 24,000 Total Assets $230,000 TL + TE $230,000 SHA Cafe has the following transactions for the month of August2017. Record appropriate journal entry for each transaction and post the transactions to the T accounts. Prepare income statement and balance sheet for the month of August. Please show all your work. a. SHA Cafe owner invested $50000 cash for expansion. b. The cae acquired necessary kitchen equipment for $8,000 cash and $1,500 on a 2 month note at 8%. Equipment has 5 year useful life with a total of 500 salvage value. c. The cafe paid $3,000 for six months' rent in advance at the beginning of the month. d. The cafe borrowed $24,000 from bank on August 1. The note is for two years with all interest due at the end of note. The interest rate is 10%. e. The cae purchased inventory costing $9,000, paying cash $3,000, and the remainder was on open account . The cafe generated revenues for $20,000. 60% of the sales was received in cash, and the 12,000 remainder was on account. g. The cost of the goods sold was $5,000. h. The cafe owed $2,500 for wages to be paid on September 2. i. One month of wage including owner's salary other than transaction h, $5,000 was paid in cash . eighth Ten H expen d" interest expen