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Vanessa Kelly owns and manages a Health Food store that is located in Newcastle Ontario, Vanessa opened the store on September 1, 2020, when she

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Vanessa Kelly owns and manages a Health Food store that is located in Newcastle Ontario, Vanessa opened the store on September 1, 2020, when she contributed $55,000 in exchange for common shares. Consider the following transactions that took place in September: Sep 1 Paid $18,000 for six months rent. 3 Purchased $15,000 of furniture paying $3,000 with cash, and the remainder as a note payable bearing an 8% interest rate. The furniture has a useful like of 10 years. 5 Purchased $1,000 worth of supplies with cash. These supplies were fully used in the period. 7 Purchased $30,000 worth of inventory, on account. 15 Sold $20,000 in products. collecting $8,000 in cash with the remainder on account. The products cost Vanessa $14,000. 20 Collected $8,000 from customers on account. 25 Paid $15,000 of the amount owed to suppliers. 31 Paid wages of $3,000. Prepare the period end adjusting journal entries for the above transactions as of September 30, 2020. BIA-A-I EX3x X, IEE - VR + TTT12pt Paragraph Sept 1

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