Amazon.com, Inc. had the following transactions in August 2024:

• August 1: Issued bonds payable for $500,000.
• August 6: Purchased land for $200,000, paying $100,000 cash and the rest on account.
• August 14: Paid wages to employees of $20,000.
• August 20: Returned damaged inventory worth $5,000 to supplier.
• August 29: Received $10,000 from a customer for a service to be provided in the future.

Requirements:

1. Journalize the transactions.
2. Post the transactions to the general ledger.
3. Prepare an adjusted trial balance.
4. Prepare the balance sheet as of August 31, 2024.
5. Determine the amount of liabilities at the end of August 2024.