ansactions: - October 1: Shareholders invest $3,000,000 cash in an a known as Rashid Advertising Agency Inc. advertising venture to be signing a 3-month, 12%, $60,000 note payable. October 1: Rashid Advertising purchases office equipment costing $60,000 by October 2: Rashid Advertising receives a $10,000 cash advance from WA, a client, for advertising services that are expected to be completed by December 31. October 3: Rashid Advertising pays $4,000 office rent, in cash, for October. October 4: Rashid Advertising pays $12,000 for a one-year insurance policy that will expire next year on September 30. October 5: Rashid Advertising purchases, for $50,000 on account, an estimated 3-month supply of advertising materials from ABF Supply October 20: Rashid Advertising's board of directors declares and pays a $10,000 cash dividend to shareholders. October 26: Employees are paid every four weeks. The total payroll is $1,000 per day. The pay period ended on Friday, October 26, with salaries of $20,000 being paid October 31: Rashid Advertising receives $156,000 in cash and bills Copa Company $144,000 for advertising services of $300,000 provided in October. Additional notes (for Adjusting entries): An inventory count at the close of business on October 31 reveals that $20,000 of the advertising supplies are still on hand. An analysis of the policy reveals that $1000 ($12,000/12) of insurance expires each month Rashid Advertising estimates depreciation on its office equipment to be $800 per month Analysis reveals that Pioneer earned $6,000 of the advertising services in October. That was considered as unearned service revenue. In October Rashid earned $4,000 for advertising services that it did not bill to clients before October 31 Remember: Rashid signed a three-month, 12%, note payable in the amount of $60,000 on October 1 Bad debts amount is estimated to be $3,200. Journalize the following transactions toke place in October 2019: Post to ledger book. Prepare the unadjusted trial balance. Prepare adjustments Prepare adjusted trial balance Prepare the income statement for October, statement of retained earnings for October, and statement of financial position as on 31/October/2019