Chandan just finished his day working as a structural engineer and called you while driving to the market to pick up an ingredient for tonight. He starts to tell you the story of his current side hustle.

Chandan has been working as a structural engineer for 3 years, but the hours, his boss, and the continual stress of moving from project to project are slowly wearing him down. Chandan gets paid $64,000 a year as a structural engineer with a well-established company in British Columbia. He and his wife are currently renting a 1 bedroom apartment but will need a bigger space in the near future.

Chandan mentions that he enjoys cooking and hosting parties at his home (dining room and patio) for friends and family. He cooks up three-course meals with desserts. At the last dinner party, his friends were telling him that the quality and presentation of his meals exceeds those of other restaurants and praised him for his talent in cooking and baking. Feeling fed up with work, Chandan wants your advice on how feasible this business venture might be.

Currently, Chandan has $120,000 saved up in a personal bank account, earning 1.5% per year. He is expecting to use most of this money as a down payment for his new home. He wants your advice on how to invest these funds.

A friend of Chandans who works in real estate, Arsh, says he wants to invest in Chandans company. He is willing to pay $50,000 for a 50% equity stake in the business. Chandan is uncertain of whether to accept this offer or to continue on his own. Arsh is willing to pay in 4 cash installments throughout the year or upfront through a transfer to 1.6296 Bitcoin to Chandans Bitcoin wallet. Chandan doesnt have a Bitcoin wallet and doesnt understand much about cryptocurrencies. Chandan wants to know the differences between the two payment structures.

Some of his friends pay him cash for the dinners while others e-transfer him. Chandan doesnt understand how to account for the transactions and wants some sample journal entries for how to record revenues every month and how to record expenses.