Reference no: EM132632281

Question - Karen Yuppie opened an online rental business called Condo Search near her homes. During the first month of operations, December 2020, she had the following transactions:

1) Invested $14,500 of personal funds to start the business.

2) Incurred travel expenses for $1,330, which will be paid later.

3) Paid $780 cash for maintenance expenses.

4) Received $5,200 cash for services provided to clients.

5) Paid $1,330 related to the purchase in transaction 2.

6) Paid three months of office rent in advance, in the amount of $1,500.

7) Incurred $460 of utilities expenses, which will be paid next month.

8) Received $1,050 cash from a customer for services to be provided in two months.

9) Provided $1,170 in services for a customer who will pay later.

10) Recognized one month of office rent that was prepaid.

11) The owner withdrew $1,040 cash from the business for personal use.

12) Purchased a second-hand car worth $6,930 for business use with cash.

13) Received $760 from the customer in transaction 9.

Required -

A) Journalize the following transactions?

B) Make a balance sheet, income statement, and statement of retained earnings from these transactions?