Advertising Expense $ 600.00 Rent Expense $ 4,000.00 Miscellaneous Expense $ 300.00 Total $173,100.00 $ 173,100.00 The following are the transactions during August 2018 August 1 Paid salary, $1,200. 2 Acquired Water Equipment, $35,000. Paid $5,000 cash and signed Notes Payable for the rest. 4 Performed service on account, $3,000. 6 Paid $500 for advertising in a local newspaper. 7 8 10 13 14 15 17 Performed services and received $2,000 cash. Paid $12,000 for the Notes Payable due Purchased $600 supplies on account. Purchased a new vehicles and signed a $25,000 notes payable Performed services and received $5,000 cash. Paid salary, $1,200. Performend $1,500 services on account. 20 Paid dividends, $3,000. 21 25 2222222233 Received $3,000 cash for service performed. Paid $1,000 on account. Received Cash from customers on account, $1,000. Peformed service for cash, $5,000 26 Paid $200 for August utility. 28 Received payment on account, $5,000. 29 Paid $1,000 office rent for August. 30 Paid salary, $1,200 31 Paid Misscellaneous Expense, $100. Required: 1 Journal the transactions that occurred in August 2018. 2 Post the journal entries to the General Ledger. 3 Calculate the new balances as of August 31, 2018. 4 Prepare the Trial Balance for Minnewashta Water Sport, Inc. at August 31, 2018. 5 Prepare the financial Statements for Minnewashta Water Sport, Inc.