EXERCISE (All exercise would be saved in one record) 1. Journalize the following transactions for the month of February 1: a. Sold merchandise on account for $10,000 (other income, other receivable,); Cost of Goods Sold $3,000 (Inventory, Cost of Sale) b. Received the utilities bill for $250.00 (accrued expense, utilities expense) C. Salaries for the week are $3,300 (salaries expense, wages payable) d. Received and invoice of $100 for advertising. 2. Create a new vendor (use your own information), Term 3%, n/15, credit limit $1,000. Prepare the Vendor List Report only for your account, include a column for term conditions and credit limits. (February 5) 3. Prepare a sales order (15 units of any product). In the Sales Order Register include a column with the name of the vendor. (February 7) 4. The invoice from the sales order above was delivered completely (February 9) 5. (Prepare a Invoice Register) 6. Prepare an Income Statement (February 28) 7. Prepare a Balance Sheet (February 28) 8. Prepare a Cash Flow