Feb 1: They paid $3,000 for rent Feb 2: Distributed $30,000 dividends to the owners. Feb 3. They received $2,000 from credit card companies Feb 3: They purchased $25,000 inventory: $2,000 in cash and the rest on account Feb 7: They had $20.000 sales: Yow in can, 10 on customers account (NR), and 20% on credit card (cc/). Those sales cost them using $4,000 of the inventory Feb 8. They received a utility bill of S500 which was due in three weeks (L/P). Feb 9: They received $3,000 from the customers who were billed before Feb 10: They paid $3,000 for AVP Feb 14: They had $15,000 sales, 60% in cash, 20% on customers account INR), and 20% on credit card (CC/R). Those sales cost them using $3,000 of the inventory Feb 14: They paid $6,000 for wages. Feb 15: Owners invested additional $50,000 in the business Feb 16: They purchased $3,000 inventory in cash Feb 23: They had sales of $20,000; $12,000 in cash and the rest on customers' account. Those sales cost them using $4,000 of the inventory Feb 24: They paid $500 for the utility bill dated Feb 8 Feb 25: They paid $2,000 for AVP. Feb 29: They had $30,000 sales: 70% in cash, 10% on customers account INR), and 20% on credit card (CC/R). Those sales cost them using $6,000 of the inventory Feb 29: Distributed $20,000 dividends to owners. Feb 29: They paid $3,500 for their loan (N/P). Remember only $2,000 of payments goes against the principal of the loan Feb 29. They purchased $2,000 supplies on account Requirement-2: Post from Journal to Accounts (make the accounts in scrap paper and do not submit them with your work) Requirement-3: Prepare a trial balance for the end of Feb. Requirement 4: Journalize the adjustments for the following cases a. Two months of the insurance has expired. b. Only $500 of supplies are left. c. Equipment in the restaurant deprecated $500 per month. Furniture in restaurant deprecated $300 per month Requirement 5: Update those accounts that have been adjusted. Requirement-6: Prepare an adjusted trial balance. Requirement.7: Prepare Income Statement, RE Statement, and Balance Sheet Requirement-1: Journalize the closing of temporary accounts based on the recent adjusted trial balance. Then prepare a post.closing trial balance, Note: You may need to use the following accounts Cash, Common Stocks, NP. NR. CC/R.N/P, W/P, ACC-DEP Equipment, Acc.op Furniture, Inventory, Supplies, PP.Insurance, Dividends, Re, and the following expenses: Rent Exp, Supply Exp. Insurance Exp, interest.Exp. Wanes Exp. CGs, Utility, Dep Exp Equipment, Dep.bxp Furniture. Feel free to add any account, if needed Please consider 15% tax in your income statement Feb 1: They paid $3,000 for rent Feb 2: Distributed $30,000 dividends to the owners. Feb 3. They received $2,000 from credit card companies Feb 3: They purchased $25,000 inventory: $2,000 in cash and the rest on account Feb 7: They had $20.000 sales: Yow in can, 10 on customers account (NR), and 20% on credit card (cc/). Those sales cost them using $4,000 of the inventory Feb 8. They received a utility bill of S500 which was due in three weeks (L/P). Feb 9: They received $3,000 from the customers who were billed before Feb 10: They paid $3,000 for AVP Feb 14: They had $15,000 sales, 60% in cash, 20% on customers account INR), and 20% on credit card (CC/R). Those sales cost them using $3,000 of the inventory Feb 14: They paid $6,000 for wages. Feb 15: Owners invested additional $50,000 in the business Feb 16: They purchased $3,000 inventory in cash Feb 23: They had sales of $20,000; $12,000 in cash and the rest on customers' account. Those sales cost them using $4,000 of the inventory Feb 24: They paid $500 for the utility bill dated Feb 8 Feb 25: They paid $2,000 for AVP. Feb 29: They had $30,000 sales: 70% in cash, 10% on customers account INR), and 20% on credit card (CC/R). Those sales cost them using $6,000 of the inventory Feb 29: Distributed $20,000 dividends to owners. Feb 29: They paid $3,500 for their loan (N/P). Remember only $2,000 of payments goes against the principal of the loan Feb 29. They purchased $2,000 supplies on account Requirement-2: Post from Journal to Accounts (make the accounts in scrap paper and do not submit them with your work) Requirement-3: Prepare a trial balance for the end of Feb. Requirement 4: Journalize the adjustments for the following cases a. Two months of the insurance has expired. b. Only $500 of supplies are left. c. Equipment in the restaurant deprecated $500 per month. Furniture in restaurant deprecated $300 per month Requirement 5: Update those accounts that have been adjusted. Requirement-6: Prepare an adjusted trial balance. Requirement.7: Prepare Income Statement, RE Statement, and Balance Sheet Requirement-1: Journalize the closing of temporary accounts based on the recent adjusted trial balance. Then prepare a post.closing trial balance, Note: You may need to use the following accounts Cash, Common Stocks, NP. NR. CC/R.N/P, W/P, ACC-DEP Equipment, Acc.op Furniture, Inventory, Supplies, PP.Insurance, Dividends, Re, and the following expenses: Rent Exp, Supply Exp. Insurance Exp, interest.Exp. Wanes Exp. CGs, Utility, Dep Exp Equipment, Dep.bxp Furniture. Feel free to add any account, if needed Please consider 15% tax in your income statement