Ford Motor Company:

• Starting Balances as of September 1, 2025:
  • Cash: $110,000
  • Accounts Receivable: $70,000
  • Inventory: $130,000
  • Equipment: $320,000 (Accumulated Depreciation: $75,000)
  • Accounts Payable: $90,000
  • Bank Loan: $80,000
  • Capital: $365,000
• September 2025 Transactions:
  • Purchased additional inventory for $110,000 on account.
  • Paid $55,000 towards accounts payable.
  • Made sales of $280,000 (60% on credit), cost of goods sold $160,000.
  • Collected $100,000 from accounts receivable.
  • Paid $90,000 in operating expenses.
  • Paid $35,000 towards the bank loan.
  • Recorded depreciation expense of $9,000.

Requirements:

1. Journalize the transactions.
2. Post to the ledger accounts.
3. Prepare an adjusted trial balance.
4. Create the income statement and balance sheet for September 30, 2025.