Simon formed a grass$-$cutting and related services business in Prince George, B$.$C$.,$Si $-$ the Grass Guy$$

proprietorship. To start the business on May $1,2023$ Simon deposited $$3,000$ in a new bank account under the

business$$s name. The $$3,000$ consisted of a $$1,500$ loan from his father and $$1,500$ of Simon$$s own hard earned

cash money.

Simon rented the appropriate equipment needed, such as mowers, aerators, etc. Inventory of chemicals$/$supplies to

be used in contract revenue performances over the summer $($May $1$ Aug $312023).$ Joe, a fellow UNBC student

was hired to assist with services as well. At the end of each month, Invoices outstanding under $$Accounts

Receivable$($bills yet to be paid in full$)$ are emailed$/$mailed to customers owing Simon$$s business payment.

On August $31,$ Simon returned to university for a full Sept to April semester. Because operations were so busy in

the summer, Simon NOW had to report his income to the Canadian Revenue Agency! Simon kept records within

a folder to support Journal Entries recorded via cash movements. Adjusting entries regarding Timing$/$Performance

are all done as of the last reporting date, however recording all movements with a JE is also acceptable. The activity

in this account is meant to represent all business operations; i$.$e$.$ expenses, revenues, and balance sheet movements.

Si has $$500$ to collect in cash from customers as of August $31$st as well. Each month on the $15$th$,$ Simon creates and

collects invoices billed for completion of the various jobs; Revenue paid in cash on the $15$th is $$10,000$ in May; June

$$15,000$; July $$9,000$; August $$5,000.$ On August $31$th

$,$ Simon needs to collect $$1,000$ from various customers.

Simon made a payment from his business bank account June $6$

th for grass supplies kept in inventory, paying a total

of $$5,000.$ At August $31,$ he still has an inventory of products and other supplies leftover of $$500.$

Simon paid Joe $$1,500$ each month in cash, however he withdrew $$1,500$ for himself each Month end $($through

retained earnings$).$ Advertising at a cost of $$100$ as paid on May $5$th

$.$ Simon rented lawn equipment on May $1$ for the

next $4$ months; total $$2,500$ paid. Simon had a serious accident with equipment, resulting in repairs required and on

Account Payable; $$600$ charged to Simon on August $23$rd

$.$

To transport employees, equipment and supplies a used truck and trailer was bought for $$1,100$ on May $10$th$.$ Simon

depreciates the trailer value using $30\%$ of the asset$$s value per period. Simon paid his father back on August $20$th$.$Journalise transactions