JKL Inc. has the following transactions in January 2024:

• January 2: Received a $10,000 bank loan.
• January 8: Purchased machinery for $6,000, paying $1,500 in cash and the rest on credit.
• January 14: Paid $2,200 for office rent.
• January 20: Made cash sales of $9,000.
• January 28: Paid $3,000 for salaries.

Requirements:

1. Record the journal entries for the transactions.
2. Post the entries to T-accounts.
3. Prepare a trial balance as of January 31, 2024.
4. Prepare an income statement for January 2024.
5. Discuss the impact of the bank loan on the company's financial position.