GreenFields Organic Farm carried out the following transactions:
1.Issued $250,000 in common stock.
2.Purchased farming equipment for $60,000 on credit.
3.Paid $5,000 for advertising.
4.Sold organic produce on account worth $100,000 (cost $40,000).
5.Paid $30,000 in wages.
6.Received $80,000 from customers.
7.Paid $4,000 for utilities.
Requirement: Prepare journal entries and create a trial balance.