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Milo Clothing experienced the following events during Year 1 , its first year of operation: Acquired $ 3 0 , 0 0 0 cash from

Milo Clothing experienced the following events during Year 1, its first year of operation:
Acquired $30,000 cash from the issue of common stock.
Purchased inventory for $15,000 cash.
Sold inventory costing $9,000 for $20,000 cash.
Paid $1,500 for advertising expense.
Required
a. Record the general journal entries for the preceding transactions.
b. Post each of the entries to T-accounts.
c. Prepare a trial balance to prove the equality of debits and credits.

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