E3.10 (LO4,5)(Postjournalentriesandpreparetrialbalance.)KangLtd.hadthefollowing opening account balances at July 31: Cash \$4,000; Accounts Receivable \$2,000; Equipment \$2,500; Accounts Payable \$1,500; Common Shares \$2,000; and Retained Earnings \$5,000. Kang's general journal for the month of August is presented here: Instructions a. Prepare an explanation for each of the journal entries listed above. b. Set up T accounts, enter the opening balances at July 31, post the August journal entries to the general ledger, and determine the ending balances in each account. c. Prepare a trial balance at August 31