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

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Question:

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.

a. On September 1, Reis invested $15,000 cash into her new business.
b. On September 12, purchased $2,000 of equipment (cameras) on credit.
c. On September 13, purchased $500 of equipment (lighting), paying cash.
d. On September 18, photographed an engagement session for $1,000; collected cash.
e. On September 21, photographed a family session for $700 on credit.
f. On September 26, paid $1,000 regarding (b).
g. On September 29, collected $300 regarding (e).

2. Precision Laser Centres showed the following selected activities during the month of April 2020.

April	5	Performed surgery on a customer today and collected $4,200 cash.
	8	Purchased surgical supplies on credit; $18,600.
	10	Contacted a client’s lawyer today regarding a complaint about the surgery. The client is planning to sue for $120,000.
	18	Paid salaries; $37,000.
	20	Performed five surgeries today, all on credit; $4,000 each.
	21	Paid for the surgical supplies purchased on April 8.
	22	Paid the April utilities bill today; $1,600.
	29	Collected from three of the credit customers of April 20.