Milo Clothing experienced the following events during Year 1. Its first year of operation: 1. Acquired $12,500 cash from the issue of common stock. 2. Purchased Inventory for $5,400 cash. 3. Sold inventory costing $3,240 for $5,508 cash. 4. Paid $650 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. 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 "Noj required" in the first account field.) View transaction list Journal entry worksheet View transaction vist Journal entry worksheet Record the entry of inventory purchased for cash. Note: Enter debits before credits. Event General Journal Debit Credit 02 Record entry Clear entry Vlow general Journal View transaction list Journal entry worksheet Record entry for cost of goods sold. Note: Enter debits before credits. Event General Journal Debit Credit 3b Record entry Clear entry View general Journal Prey 2 of 5 Next > View transaction list Journal entry worksheet Record entry for advertising expenses paid. Note: Enter debits before credits. Event General Journal Debit Credit 04 Record entry Clear entry View general Journal Prey 2 of 5 Next Required A Required B Required C Post each of the entries to T-accounts. Cash Merchandise Inventory Bog. Bal Beg. Bal. End. Bal. End. Bai. Common Stock Sales Revenue Bog. Bal. Beg Bal End. Bal. End, Bal. Cost of Goods Sold Advertising Expense Beg. Bal. Beg Bal End. Bal. End, Bal