Journal Entry-Help
Here for your review is how the actual Journal Entries would look like.
								Debits	Credits
								Plus	Minus
								+	-
Transactions
Transaction 1	Investing in the Business						Cash	$5.00
	Mia invests $3.00 and Leo invests $2.00						Owner Equity-Mia		-$3.00
							Owner Equity-Leo		-$2.00
Transaction 2	Loan to the business						Cash	$5.00
	Mia loans the business $5.00						Loans Payable-Mia		-$5.00
Transaction 3	Purchase of Equipment						Equipment	$10.00
	Mia wrote a check for $10.00 for Equipment						Cash		$10.00
Transaction 4	Mom Loans the business $6.00						Cash	$6.00
	Accounts Payable-Mom						Accounts Payable-Mom		$6.00
Transaction 5	Purchase of Inventory						Inventory	$6.00
	Mia wrote a check for $6.00 to purchase Inventory						Cash		$6.00
Transaction 6	Sales Day 1-$10.00						Cash	$10.00
	Sales were $10.00 and  Cost Of Sales were $6.00						Cost Of Sales	$6.00
	,Cash Received was $10.00 and Inventory decreased by $6.00						Inventory		$6.00
							Sales		$10.00
Transaction 7	Paying Off Debts						Accounts Payable-Mom	$6.00
	Mia pays off Accounts Payable to Mom of $6.00 and						Loans Payable-Mia	$4.00
	Mia pays off $4.00 of her loan balance -Loans Payable-Mia.						Cash		$10.00
	with Cash
Transaction 8	Loan to Business						Cash	$7.00
	Mia loans the business $7.00						Loans Payable-Mia		$7.00
Transaction 9	Purchase of Inventory from Mom						Inventory	$7.00
	Mia pays Mom $7.00 for Invemtory						Cash		$7.00
Transaction 10	Sales Day 2-$13.50						Cash	$13.50
	Sales were $13.50 and  Cost Of Sales were $7.00						Cost Of Sales	$7.00
	,Cash Received was $13.50 and Inventory decreased by $7.00						Inventory		$7.00
							Sales		$13.50
Transaction 11	Paying Debts						Loans Payable-Mia	$8.00
	Mia pays herself $8.00 for the Loan still owed to her.						Cash		$8.00
Transaction 12	Paying Owners
	The kids wat to draw out some money.						Owner Draws-Mia	$2.75
	Mia pays Leo $2.75 and herself $2.75						Owner Draws-Leo	$2.75
	for a total cash outlay of $5.50.						Cash		$5.50