I am in need of a solution for this problem so I can use it as practice, thanks so much.

Freestyle Fashion is an urban clothing retailer using the perpetual inventory system. Its balance sheet as at January 1, 2018 is presented below. Freestyle Fashion Balance Sheet As at January 1, 2018 Current Assets Cash $28,400 Merchandise Inventory 50,000 Prepaid Rent 12,000 Total Current Assets Property, Plant & Equipment Equipment 32,000 Total Property, Plant & Equipment Total Assets $90,400 32,000 $122,400 $20,500 12,000 $32,500 Current Liabilities Accounts Payable Unearned Revenue Total Current Liabilities Long-Term Liabilities Notes Payable Total Long-Term Liabilities Total Liabilities Owner's Equity Styles, Capital Total Liabilities and Owner's Equity 60,000 60,000 92,500 29,900 $122,400 During January 2018, Freestyle Fashion had the following transactions. Jan 2 Purchased 490 jackets at $50 each on account (with terms 2/10, n/30) Jan 5 Sold $50,000 worth of inventory on account; this inventory cost $39,000 Jan 9 Purchased 100 pairs of jeans at $20 each on account (with terms 4/15, n/30) Jan 11 Paid the balance owed to the supplier for all the jackets purchased on January 2 Jan 16 Paid wages of $2,000 Jan 18 A customer returned products for cash to the store due to a defect; these products were originally sold for $200 and cost $75 Jan 21 Paid the balance owed to the supplier for jeans purchased on January 9 Jan 24 Received $25,000 cash from sales previously made on account Jan 26 incurred $2,500 in utilities expenses, to be paid next month Jan 30 Sold $20,000 worth of inventory for cash; this inventory cost $15,000 The company uses the following chart of accounts to implement its accounting system. Account Description Account # Account Description Account # REVENUE 400 ASSETS Cash Accounts Receivable Prepaid Rent Merchandise Inventory Equipment Accumulated Depreciation-Equipment 405 101 105 110 115 Sales Revenue Sales Returns & Allowances Sales Discounts 410 120 125 500 505 LIABILITIES 200 510 515 520 205 Accounts Payable Interest Payable Salary Payable Unearned Revenue Notes Payable 210 215 220 EXPENSES Cost of Goods Sold Advertising Expense Depreciation Expense Insurance Expense Interest Expense Maintenance Expense Office Supplies Expense Professional Fees Expense Rent Expense Salaries Expense Utilities Expense Travel Expense 525 530 OWNER'S EQUITY 535 540 545 Styles, Capital Styles, Withdrawals Income Summary 300 310 315 550 555 Required a) Journalize the transactions for January 2018. Date Account Title and Explanation PR Debit Credit Date Account Title and Explanation PR Debit Credit b) Journalize the following adjustments (to be recorded on January 31, 2018). Jan 31 Jan 31 Jan 31 Jan 31 Prepaid rent represents one year of retail space rent; one month of prepaid rent has been used Depreciation of store equipment for the month is $2,000 $1,000 of unearned revenue has now been earned $100 of interest is accrued and owed on the notes payable Date Account Title and Explanation PR Debit Credit c) Prepare the month-end closing journal entries. Use the income summary account. Date Account Title and Explanation PR Debit Credit d) Post the transactions to the general ledger. General Ledger Account: Date GL No: Balance Description PR DR CR Account: Date GL No: Balance Description PR DR CR e) Prepare a multiple-step income statement for January 2018. Assume that $2,000 of the utilities expense is for retail space and $500 is for head office. Assume that $1,200 of the salaries expense is for sales and $800 is for office staff. f) Prepare a statement of owner's equity for January 2018. g) Prepare a balance sheet for January 2018. Freestyle Fashion is an urban clothing retailer using the perpetual inventory system. Its balance sheet as at January 1, 2018 is presented below. Freestyle Fashion Balance Sheet As at January 1, 2018 Current Assets Cash $28,400 Merchandise Inventory 50,000 Prepaid Rent 12,000 Total Current Assets Property, Plant & Equipment Equipment 32,000 Total Property, Plant & Equipment Total Assets $90,400 32,000 $122,400 $20,500 12,000 $32,500 Current Liabilities Accounts Payable Unearned Revenue Total Current Liabilities Long-Term Liabilities Notes Payable Total Long-Term Liabilities Total Liabilities Owner's Equity Styles, Capital Total Liabilities and Owner's Equity 60,000 60,000 92,500 29,900 $122,400 During January 2018, Freestyle Fashion had the following transactions. Jan 2 Purchased 490 jackets at $50 each on account (with terms 2/10, n/30) Jan 5 Sold $50,000 worth of inventory on account; this inventory cost $39,000 Jan 9 Purchased 100 pairs of jeans at $20 each on account (with terms 4/15, n/30) Jan 11 Paid the balance owed to the supplier for all the jackets purchased on January 2 Jan 16 Paid wages of $2,000 Jan 18 A customer returned products for cash to the store due to a defect; these products were originally sold for $200 and cost $75 Jan 21 Paid the balance owed to the supplier for jeans purchased on January 9 Jan 24 Received $25,000 cash from sales previously made on account Jan 26 incurred $2,500 in utilities expenses, to be paid next month Jan 30 Sold $20,000 worth of inventory for cash; this inventory cost $15,000 The company uses the following chart of accounts to implement its accounting system. Account Description Account # Account Description Account # REVENUE 400 ASSETS Cash Accounts Receivable Prepaid Rent Merchandise Inventory Equipment Accumulated Depreciation-Equipment 405 101 105 110 115 Sales Revenue Sales Returns & Allowances Sales Discounts 410 120 125 500 505 LIABILITIES 200 510 515 520 205 Accounts Payable Interest Payable Salary Payable Unearned Revenue Notes Payable 210 215 220 EXPENSES Cost of Goods Sold Advertising Expense Depreciation Expense Insurance Expense Interest Expense Maintenance Expense Office Supplies Expense Professional Fees Expense Rent Expense Salaries Expense Utilities Expense Travel Expense 525 530 OWNER'S EQUITY 535 540 545 Styles, Capital Styles, Withdrawals Income Summary 300 310 315 550 555 Required a) Journalize the transactions for January 2018. Date Account Title and Explanation PR Debit Credit Date Account Title and Explanation PR Debit Credit b) Journalize the following adjustments (to be recorded on January 31, 2018). Jan 31 Jan 31 Jan 31 Jan 31 Prepaid rent represents one year of retail space rent; one month of prepaid rent has been used Depreciation of store equipment for the month is $2,000 $1,000 of unearned revenue has now been earned $100 of interest is accrued and owed on the notes payable Date Account Title and Explanation PR Debit Credit c) Prepare the month-end closing journal entries. Use the income summary account. Date Account Title and Explanation PR Debit Credit d) Post the transactions to the general ledger. General Ledger Account: Date GL No: Balance Description PR DR CR Account: Date GL No: Balance Description PR DR CR e) Prepare a multiple-step income statement for January 2018. Assume that $2,000 of the utilities expense is for retail space and $500 is for head office. Assume that $1,200 of the salaries expense is for sales and $800 is for office staff. f) Prepare a statement of owner's equity for January 2018. g) Prepare a balance sheet for January 2018