Exercise 3. Journal, Ledger, and Trial Balance The balance sheet accounts of the retail company Vinos Manolo \& Benitez had the following balances on December 31, 2022: The following transactions occurred in 2023. The company: a. Paid outstanding suppliers for $25,000. b. Collected existing credits from customers $12,000. c. Acquired new building for $10,000 paid in cash. d. Has acquisitions of merchandise inventory on account for $64,000. e. Sold wines for $65,000 cash and the remaining $35,000 on open account. f. Cost of goods sold was $87,000. g. Due to an unexpected tax audit, the company paid a lawyer for legal expenses in cash, $5,000. h. Paid advertising expenses in cash, $2,000. i. The corresponding rent for the period was $1,000. j. The depreciation for the building was $3,000 (use Accumulated Depreciation). Required 1. Open the appropriate T-accounts in the general ledger. Enter the January 1, 2023 balances in the accounts. (1 Point) 2. Journalize the transactions. Post the entries to the ledger, keying by transaction letter. (6 Points) 3. Prepare a trial balance, income statement and balance sheet for the fiscal year ended December 31, 2023. (3 Points)