Jills Widget House has the following transactions in October 2020:Jill puts $200,000 cash into her company on October 1st she is the sole shareholder (owner).Jill then borrows $40,000 from the Bank of USF to buy (for $48,000) her office, warehouse and delivery equipment. She pays the $8,000 down payment in cash. The assets have a four-year useful life. The loan has a 6.0% annual interest rate and no principal due for 5 years.Jill buys $10,000 of Widgets from WidgetMania on credit; Jill will personalize them and then sell them.Jill sellsall the Widgets she just bought for $25,000 on credit to several small companies in her town.Jill pays in cash her October rent on her warehouse in October in the amount of $2,000.Jill receives $12,000 in cash from one of the small companies she sold her Widgets to.Jill then pays $7,000 of what she owes WidgetMania.Jill has the law firm of Noodle & Poodle review her various business contracts in October. She doesnt pay the $2,500 invoice, however, until November.Post the above to T-Accounts, then create a balance sheet and income statement. Dont forget to calculate and post depreciation and interest expense for only the onemonth of October! Make sure each transaction balances and put the net income into Retained Earnings.