(B) Through the month of August, Tewari Travels recorded the following transactions:

1. Owners invested $25,000 in cash to start the business. They received equity shares.
2. The months rent of $500 was prepaid in cash.
3. Equipment costing $8,000 was bought on credit.
4. $500 was paid for office supplies.
5. Advertising costing $750 was paid for with cash.
6. Paid $3,000 employee salaries in cash.
7. Earned travel commissions of $10,000 of which $2,000 was received in cash.
8. Paid $5,000 of the $8,000 owed to the equipment supplier.
9. Used $100 of the office supplies.
10. Charged $1,000 of miscellaneous expenses on the corporate credit card.

You are asked to prepare:

1. Journal entries in the books of M/S Tewari Travels
2. Ledgers and Trial balance
3. Income statement and Balance sheet