ACG 2021 Yellow Mart Incorporated (YMI) had the following business activities in June. Journalize the following business transactions in general journal form. Identify each transaction by number. 1. Stockholders invest $25,000 cash in the corporation. 2. YMI purchased $400 of office supplies on credit. 3. YMI paid salaries for June in the amount of $6,500 4. YMI performed $3,000 of services on account for a customer 5. YMI purchased Equipment for $20,000, paying cash of $7,000 and signing note for the balance 6. YMI collected $5,000 cash for services performed for a customer. 7. YMI collected $3,000 from a customer on account. 8. YMI paid rent July-December 18,000. Required: Prepare the journal entries that would be used to record the transactions. (Reference each journal entry to the transaction number, shown above). Omit explanations General Journal Date Account Debit Credit Part II A company reported the following information on its unadjusted trial balance at December 31, Year 1: Accounts Payable $ 2,500 Accounts Receivable 9,350 Cash 23,490 Common Stock 92,000 Equipment 49,500 Inventory 31,200 Notes Payable due December 31, Year 3 2,500 Retained Earnings, December 31, Year 1 14,090 Wages Payable 2,450 Use the information above to answer the following questions. 1. What is the amount of current assets on the classified balance sheet? 2. What is the amount of the total assets on the classified balance sheet? 3. What is the amount of current liabilities on the classified balance sheet? 4. What is the amount of total liabilities on the classified balance sheet? 5. What is the total Stockholder's Equity on the classified balance sheet? 6. What is the total of the credit balance accounts? 7. What is the total of the debit balance accounts