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Christina Reis is a photographer who owns Lola Lemon Photography. This is the first month...

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Accounting

Christina Reis is a photographer who owns Lola Lemon Photography. This is the first month of operations. The following are the transactions for the month of September. On September 1, Reis invested $15,000 cash into her new business. On September 12, purchased $2,000 of equipment (cameras) on credit. On September 13, purchased $500 of equipment (lighting), paying cash. On September 18, photographed an engagement session for $1,000; collected cash. On September 21, photographed a family session for $700 on credit. On September 26, paid $1,000 regarding (b). On September 29, collected $300 regarding (e). The journal entries for the month of September. Date General Journal Debit Credit a. Sept 01 Cash 15,000 Christina Reis, Capital 15,000 b. Sept 12 Equipment 2,000 Accounts Payable 2,000 c. Sept 13 Equipment 500 Cash 500 d. Sept 18 Cash 1,000 Revenue 1,000 e. Sept 21 Accounts receivable 700 Revenue 700 f. Sept 26 Accounts payable 1,000 Cash 1,000 g. Sept 29 Cash 300 Accounts receivable 3001&2. Post the journal entries to the general ledger using T-accounts. Select the letter of each transaction next to your posting and calculate the balance in each T-account. 3. Prove the accounting equation (Assets = Liabilities + Equity).

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