P$2\mathrm{.}5$A $($LO $2,3,4)$ AP Grete Rodewald formed a dog grooming and training business called Grete Kanines on September $1,2024.$ After consulting wit

introductory accounting, Grete created a chart of accounts for the business as follows: No$.101$ Cash; No$.112$ Accounts Receivable; No$.130$ Prepaid Insu

Accounts Payable; No$.209$ Unearned Revenue; No$.301$ G$.$ Rodewald, Capital; No$.306$ G$.$ Rodewald, Drawings; No$.400$ Service Revenue; No$.610$ Adve

Expense; and No$.737$ Utilities Expense. During September, the following events and transactions occurred:

Sept. $1$ Grete transferred $$9,630$ from her personal bank account to a bank account under the company name Grete Kanines.

$2$ Signed a one$-$year rental agreement for $$690$ per month. Paid the first month's rent.

$2$ Paid $$750$ for a one$-$year insurance policy effective September $1,2024.$

$5$ Purchased $$2,640$ of equipment on credit.

$7$ Paid $$420$ for advertising in several community newsletters in September.

$13$ Collected $$500$ cash for providing dog grooming services.

$21$ Attended a dog show and provided $$800$ of dog gron ing services for one of the major kennel owners. The kennel owner will pay the am

$24$ Collected $$540$ from the kennel owner for the service. rovided on September $21.$ The kennel owner promised to pay the rest on October

$28$ Paid $$210$ for utilities for the month of September.

$29$ Paid $$1,470$ of the amount owed from the September $5$ equipment purchase.

$30$ Received $$860$ cash for dog training lessons that will start on October $10.$

$30$ Collected $$1,045$ cash for providing dog grooming services.

$30$ Paid the owner, Grete Rodewald, $$1,490$ for her persenal use.

Instructions

a$.$ Journalize the transactions.

b$.$ Post the journal entries to the ledger accounts. $($Use the ledger format provided in Illustration $2\mathrm{.}18.)$

c$.$ Prepare a trial balance as at September $30,2024.$

Taking It Further Grete thinks she needs only one account for investments, drawings, revenues, and expenses because these are all owner's equity acco

separate accounts.$$