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

 Based on the information below create a journal entry and post

Based on the information below create a journal entry and post each transaction to a T account. After that create at balince sheet, income statement, and statement of cashilow. 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 month of business. Silly contributes 5500 of her savings and borrows $500 from her mom to start the business on 6/1/2023. - Sally purchases a lemonade stand cart that is fully furnished with all the equipment she needs for 5600 on 6/2/2073 - Sally purchases ingredients to mako 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 lomonade for $100 on 6/5/2023. Lally seils 51,200 of lemonade at the county fair on 6/15/2023. - Sally pays her friend Gretta $150 for helping her seil lemonade on 6/15/2023 Sally repays 5250 of the loan her mom gave her on 6/30/2023

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