H-A Saved Milo Clothing experienced the following events during Year 1, its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Purchased inventory for $15,000 cash. 3. Sold inventory costing $9,000 for $20,000 cash. 4. Paid $1,500 for advertising expense. Required a. Record the general journal entries for the preceding transactions. b. Post each of the entries to T-accounts. c. Prepare a trial balance to prove the equality of debits and credits. Complete this question by entering your answers in the tabs below. Required A Required B Required C Record the general iournal entries for the preceding transactions. (If no entry is required Required A Required B Required Record the general journal entries for the preceding transactions. (If no entry is required for a transaction/event, select "No required" in the first account field.) View transaction list View journal entry worksheet Debit No Credit General Journal Event 30,000 1 01 Cash Common stock 30.000 15,000 2 02 Merchandise Inventory Cash 15,000 9,000 3 3a Cash Sales revenue 9,000 20,000 4 3b Cash Sales revenue 20,000 1,500 5 04 Advertising expense Cash 1,500 Required A Required B > Required A Required B Required C Post each of the entries to T-accounts. Cash Merchandise Inventory Beg. Bal. Beg. Bal. End. Bal. End. Bal. Common Stock Sales Revenue Beg. Bal Beg. Bal. End. Bal. End. Bal. Cost of Goods Sold Advertising Expense Beg. Bal. Beg. Bal. End, Bal. End. Bal. Required A Required B Required C Prepare a trial balance to prove the equality of debits and credits. MILO CLOTHING Trial Balance December 31, Year 1 Account Titles Debit Credit Totals $ 0 $ 0