Instructions: a) Set up T-Accounts with opening balances b) Prepare journal entries to record the September transactions and post to T-Accounts. c) Prepare a trial balance at September 30. d) Prepare and post the adjusting journal entries for the month. e) Prepare an adjusted trial balance at September 30, f) Prepare (1) an Income Statement, (2) a Statement of Owners Equity, and (3) a Balance Sheet. g) Prepare the closing journal entries. h) Post the closing entries to accounts 1) Prepare a post-closing trial balance Rapid Repair On August 31, 2021, Rapid Repair's opening trial balance was as follows. The company adjusts in accounts monthly Account Debit Credit Cash 9,760.00 Accounts Receivable 7,440.00 Supplies 1,600.00 Equipment 30,000.00 Accumulated Amortization - Equipment 3,000.00 Accounts Payable 6,200.00 Salaries Payable 1,400.00 Unearned Revenue 800.00 Owner, Capital 37,400.00 48,800.00 48,800.00 During September, the following transactions were completed: Sept 4 Paid employees $2,200 for salaries due, of which $1,400 was for August salaries payable and $800 for September 6 Received $5,400 cash from customers in payment of accounts. I 11 Received $8,800 cash for services performed in September 12 Owner invested 55,000 into the company 17 Purchased Supplies on account, $2,000. 21 Paid creditors $7,000 of accounts payable due 24 Paid September and October rent, $2,000 ($1,000 per month). 25 Paid salaries, $2,200 26 Performed services on account, $1,600. 27 Received $1,300 from customers for services to be provided in the future. 28 Owner withdrew, $500 from the company 28 Paid Income tax for the month, 5600 Adjusting entries data for the end of the month: 1. Supplies on hand total $800 2. Accrued Salaries payable are $1,600 3. Accrued Service Revenue for $600. The equipment has a useful life of 10 years and the company uses straight-line depreciation 5. Unearned revenue of $800 has been earned 4