1. Record the following journal entries and post them to their respective t-accounts: During the year, Chris participated in the following activities in addition to those reflected in the financial statements provided above: a) Beamer Biz, Inc. purchased $50,000 USDT at $1/USDT on July 1st,20X1. b) Beamer Biz, Inc. purchased an additional $25,000 USDT at $1/ USDT on September 30th, 20X1. c) Beamer Biz, Inc. decided to sell $18,750 USDT at \$1/USDT on December 31st,20X1 d) Interest is paid monthly at an annual rate of 12% (paid last day of each month). The interest is paid in USDT and is kept in USDT. Interest needs to be recorded on a monthly basis.* e) Calculate necessary tax expense that will be paid on these holdings as of December 31st, 20X1. This tax will be paid in 20X2. 2. Prepare: Journal entries and T-accounts 3. Prepare: Updated Financial Statements for 20X1: a) Income statement b) Statement of retained earnings c) Balance sheet