Question: Based on the information below create a journal entry and post each transaction to a T account. After that create a balance sheet, income statement,


Based on the information below create a journal entry and post each transaction to a T account. After that create a balance sheet, income statement, and statement of cashflow. Sally johnson decides to start a lemonade stand to sell drinks at events during the summer. Below are the transaction her lemonade stand business had in her first manth of business. - 5aly contributes $500 of her savings and borrows $500 from her mom to start the business on 6/1/2023. - 5ally purchases a lemonade stand cart that is fully furnished with all the equipment she needs for 5600 on 6/2/2023. - Sally purchases ingredients to make lemonade for $100 on 6/2/2023. - Sally buys a vendor permit that will allow her bring her lemonade stand to the county fair to sell lemonade for $100 on 6/5/2023. - Sally sells $1,200 of lemonade at the county fair on 6/15/2023. - Sally pays her friend Gretta $150 for helping her sell lemonade on 6/15/2023 - 5ally repays $250 of the loan her mom gave her on 6/30/2023. Saly's Lemonade Stand Sally's temonade stand Sabyrs Lemonade stand Balance Sheet Income Statement 4, income statement; and : Statement of Cash Fiow As of 6/30/2023 For Perlod 6/1 to 6/30/2023 de stand business had in Account Name Account Name Account Name
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