Aug 1:Niel invested $10,000 in the business from his personal savings account.

Aug 2:Bought delivery trucks on account, $17,000.

Aug 3:Advertising bill received but unpaid, $700.

Aug 4:Bought office equipment for cash, $1,200.

Aug 5: Received cash for delivery services rendered, $15,000.

Aug 10:Paid salaries expense, $3,000.

Aug 15:Paid gas expense for company trucks, $1,250.

Aug 20:Billed customers for delivery services rendered, $4,000.

Aug 30:Paid telephone bill, $300.

Aug 30: Received $3,000 as partial payment of goods sold on Aug 20.

Aug 31:Neil paid home telephone bill from company check book, $150. As Niels newly employed accountant, you must do the following:

1. Record the above transaction in Journal.

2. Set up T accounts in a ledger. Record transactions in the T accounts.

3.Foot and take the balance of each account where appropriate.

4. Prepare a trial balance at the end of August.

5. Prepare from the trial balance, in proper form, (a) an income statement

for the month of August (b) a statement of owners equity and (c) a balance

sheet as of 31 August,2023.