BlueWave Marine Services began with these transactions:
1.Issued $300,000 in common stock.
2.Purchased boats for $150,000 on credit.
3.Paid $7,000 for advertising.
4.Provided marine services worth $80,000 (cost $40,000) on account.
5.Paid $35,000 in wages.
6.Received $60,000 from clients.
7.Paid $5,000 for repairs.
Requirement: Prepare journal entries and create a trial balance.