Beginning balances of Evergreen Company's accounts as of January 1, 2018 as given below: Balance Debit Credit $18,200 25,000 12,000 7,500 30,000 Account Title Cash Accounts Receivable Supplies Prepaid Rent Inventory Equipment Accumulated Depreciation Accounts Payable Salary Payable Unearned Service Revenue Capital Sales Revenue Sales Returns& Allowances Sales Discounts Cost of Goods Sold Rent Expense Depreciation Expense Supplies Expense 16,000 21,000 10,000 1,200 44,500 During January 2018, Evergreen completed the following transactions: Jan 2: Purchased 50 units of inventory on account, $6,500. Jan 4: Prepaid three months' office rent, $3,300. Jan 7: Sold 70 units on cash, $10,500. Jan 10: Paid on account, $5,000. Jan 15: Purchased 40 units on account, $5,400. > Jan 20: Sold 30 units on account, $4,500 ($150 each). Credit terms of 2/10, n/30. Jan 22: Customer returned 10 units of the damaged inventory sold on Jan 20. Jan 25: Customer paid on account for the remaining balances of Jan 20 sales. (Note: You need to calculate remaining balance from Jan 20 sales because there is sales return on Jan 22. Take into consideration the discount because it is paid within discount period) On January 31, 2012 Evergreen completed following adjusting entries: Expiration of prepaid rent, $1,100. Depreciation for the month, $1,000. Supplies on hand, $8,000 Unearned sales revenue still unearned, $400. Requirements: 1. Journalize end post the January transactions using the perpetual inventory record. (Open T- accounts for each of the accounts given in trial balance, do not forget to write beginning balances) 2. Prepare FIFO schedule to calculate the Cost of Goods Sold (COGS) on the Jan 7th, and 20th. (Beginning inventory as of January 1 include 60 units $125 each which totals $7,500 as given) 3. Prepare unadjusted trial balance as of January 31, 2018. 4. Journalize and post the adjusting entries. 5. Prepare adjusted trial balance as of January 31, 2018. 6. Prepare January, 2018 Income Statement and January 31 Balance Sheet. 7. Journalize closing entries. 8. Prepare post-closing trial balance as of January 31,2018