1. Hologen Products Company began business on January 1, 2022. During January, the following transactions occurred: Jan. 1 Issued 1,000 share of $20 par value common stock in exchange for $100,000 cash. 2 Purchased inventory on account for $35,000 terms 2/15 net 30 (the perpetual inventory system is used) 4 Paid an insurance company $2,400 for a one-year insurance policy 10 Sold merchandise on account for $12,000. The cost of the merchandise was $7,000 15 Borrowed $30,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. 20 Paid employees $6,000 wages for the first half of the month 22 Sold merchandise for $10,000 cash. The cost of the merchandise was $6,000 24 Paid $15,000 to suppliers for the merchandise purchased on January 2 26 Collected $6,000 on account from customers 28 Paid $1,000 to the local utility company for January gas and electricity 30 Paid $12,000 rent for the building for a 12 month lease that began January 1 . REQUIRED 1. Prepare general journal entries to record each transaction 2. Post the entries to T accounts 3. Prepare an unadjusted trial balance as of January 30,2022 4. Journalize and post the following adjusting entries a. Prepaid insurance that has expired b. Accrued interest c. Prepaid rent that as expired d. Accrued salaries at month end $6,000 e. Bad debt expense is estimated to be 2% of credit sales 5. Prepare an adjusted trial balance 6. Prepare financial statements (income statement, statement of retained earnings, balance sheet) 7. Prepare closing entries 8. Prepare a post-closing trial balance