Milo Clothing experienced the following events during 2016, its first year of operation:

1.

Acquired $30,000 cash from the issue of common stock.

2.

Purchased inventory for $15,000 cash.

3.

Sold inventory costing $9,000 for $20,000 cash.

4.

4. Paid $1,500 for advertising expense.

a.	Record the general journal entries for the preceding transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) b. Post each of the entries into T-accounts. c. Prepare a trial balance to prove the equality of debits and credits.