Milo Clothing experienced the following events during Year 1, its first year of operation: 1. Acquired $16,000 cash from the issue of common stock. 2. Purchased inventory for $6,100 cash. 3. Sold inventory costing $3,660 for $6,222 cash. 4. Paid $800 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. > Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Return to question 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.) No Event A 1. Common stock B 2. Inventory 0 3a. Inventory General Journal Debit Credit 16,000 6,100 (3,660) > Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C 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.) No Event A 1. Common stock B 2. Inventory 0 3a. Inventory General Journal Debit Credit 16,000 6,100 (3,660) 6,222 x D 3b. Cost of goods sold E 4. Advertising expense (800) < Required A Required B > Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Post each of the entries to T-accounts. Beg. Bal. 1. 2. Cash 16,000 (6,100) 6,100 End. Bal. 3,800 Inventory Beg. Bal. End. Bal. Common Stock Sales Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Cost of Goods Sold Advertising Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. < Required A Required C > Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Prepare a trial balance to prove the equality of debits and credits. MILO CLOTHING Trial Balance December 31, Year 1 Account Titles Debit Credit Totals $ 0 $ 0 < Required B Required C >