Urban Eats Restaurant
1.Issued $100,000 in bonds payable.
2.Purchased kitchen equipment for $40,000.
3.Paid $5,000 for advertising.
4.Sold meals worth $50,000 (costing $20,000) on credit.
5.Paid $15,000 in salaries.
6.Received $45,000 from customers.
7.Paid $2,000 for cleaning services.
Requirement: Record each transaction, prepare the general ledger, and create a balance sheet.