Hide Assignment Information Instructions Assignment 1: 10 marks Instructions: PLEASE READ! Please solve all the financial accounting problems on excel or word and use the format discussed in the class. Handwritten assignments or pictures will NOT be acceptable. Please submit in D2L only. NO EMAIL submission will be accepted. Please do not send us email asking the receipt of this submission. After you submit, the D2L will confirm that you have submitted the assignment. Question 1: The chart of accounts of Mels Delivery Service includes the following: Cash, 111; Accounts Receivable, 112; Office Equipment, 121; Delivery Trucks, 122; Accounts Payable, 211; Mel Free, Capital, 311; Mel Free, Withdrawals, 312; Delivery Fees Earned, 411; Advertising Expense, 511; Gas Expense, 512; Salaries Expense, 513; and Telephone Expense, 514. The following transactions resulted for Mels Delivery Service during the month of July 2023: 1. Mel invested $10,000 in the business from his personal savings account. 2.Bought delivery truck on account, $17,000. 3.Advertising bill received but unpaid, $700. 4.Bought office equipment for cash, $1,200. 5.Received cash for delivery services 6. Paid salaries expense, $3,000., $15,000. 7. Paid gas expense for company trucks, $1,250. 8.Billed customers for delivery services rendered, $4,000. 9.Paid telephone bill, $300. 10.Received $3,000 as partial payment of Transaction H. 11.Mel paid home telephone bill from company chequebook, $150. As Mels newly employed accountant, you must do the following:Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) 5 marks Prepare from the trial balance, in proper form, (a) an income statement for the month of July, (b) a statement of owners equity, and (c) a balance sheet as of July 31, 2023. 5 marks