K incorporated and opened a business on September 1, 2020. The business will sell golf clubs and also offer golf lessons. During the month of September, K did the following: Invested $700,000 cash in the company in exchange for common stock Borrowed $400,000 from the bank Prepaid rent for six months with $60,000 Purchased golf club inventory (for resale to customers) for $200,000 cash Passed a corporate resolution to pay herself a salary of $10,000 per month, the first paycheck will be October 1st Performed $25,000 worth of golf lessons and was paid cash Sold $140,000 of the golf club inventory to a customer for $350,000, of which $300,000 was paid in cash, the remainder was sold on credit. Received a $10,000 cash retainer from a client to perform golf lessons in the future aid a dividend of $10,000cash Prepare the journal entries made during September based on the above information. Prepare a trial balance for September. Prepare the adjusting journal entries and an adjusted trial balance for September based on the following additional information. In each instance, label what type of adjusting journal entry is being made. $5,000 in golf lessons on the $10,000 retainer received have been provided The salary expense for the month of September needs to be recorded An additional $15,000 of golf lessons have been provided but the client has not yet been billed One month of the prepaid rent has expired $5,000 in interest for the month of September on the borrowed funds needs to be recorded repare a multi-step income statement, statement of retained earnings, and a classified alance sheet for the month of September. repare all necessary closing entries and a closing trial balance for the month of eptember. K incorporated and opened a business on September 1, 2020. The business will sell golf clubs and also offer golf lessons. During the month of September, K did the following: Invested $700,000 cash in the company in exchange for common stock Borrowed $400,000 from the bank Prepaid rent for six months with $60,000 Purchased golf club inventory (for resale to customers) for $200,000 cash Passed a corporate resolution to pay herself a salary of $10,000 per month, the first paycheck will be October 1st Performed $25,000 worth of golf lessons and was paid cash Sold $140,000 of the golf club inventory to a customer for $350,000, of which $300,000 was paid in cash, the remainder was sold on credit. Received a $10,000 cash retainer from a client to perform golf lessons in the future aid a dividend of $10,000cash Prepare the journal entries made during September based on the above information. Prepare a trial balance for September. Prepare the adjusting journal entries and an adjusted trial balance for September based on the following additional information. In each instance, label what type of adjusting journal entry is being made. $5,000 in golf lessons on the $10,000 retainer received have been provided The salary expense for the month of September needs to be recorded An additional $15,000 of golf lessons have been provided but the client has not yet been billed One month of the prepaid rent has expired $5,000 in interest for the month of September on the borrowed funds needs to be recorded repare a multi-step income statement, statement of retained earnings, and a classified alance sheet for the month of September. repare all necessary closing entries and a closing trial balance for the month of eptember