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I need help asp Rachel started Mavtech Inc, a computer retail business on September 1, 2015. What follows is description of significant events that affected

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Rachel started Mavtech Inc, a computer retail business on September 1, 2015. What follows is description of significant events that affected Mavtech Inc during September 2015 1. On September 1 , Mavtech issued 6000 shares at par to Rachel for cash. The par value of each share is $10. 2. On September 1 , Mavtech borrowed $72,000 from a bank. The interest rate on the loan is 10% per annum. Interest is payable every year, the first interest payment being due for payment on September 1, 2016. The principal amount that was borrowed is due in one single repayment on September 1,2019. 3. On September 1, Mavtech paid $6,000 toward rent on the store for the rest of 2015. The rent includes all utilities. 4. On September 1, Mavtech acquired furniture and fixtures for $14,000 and made a down payment of $3,000. The remaining payment will be made in October. The furniture and fixtures have an estimated useful life of 5 years, at the end of which they are expected to be sold for $2,000. 5. On September 1, Mavtech acquired 4 cash registers for $6,000 in cash. This equipment has a useful life of 3 years after which they are expected to be sold for $600. Required: 1. Prepare journal entries for all transactions listed above. Please consult the Excel file posted in this module for all of the possible account names, including those that may not be relevant to your solution. 2. Post those entries to T-accounts and prepare an unadjusted trial balance (for September 1, 2015). 3. Prepare the Balance Sheet for September 1, 2015. (This is just for the propose of practicing our financial statements. The balance sheet is not usually prepared at this part of the reporting period.) When using Excel, please make sure to use formulas to demonstrate your understanding of accounting. Do not type in numbers (except for the journal entries themselves). It really defeats the purpose of using Excel. For example, the amounts in the T-accounts should all be formulas that reference the journal entries, and one to sum them. Similarly, all the numbers in the trial balance should reference ending balances in the T-accounts

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