Milo Clothing experienced the following events during Year 1, its first year of operation: 

 

2. Acquired $11,000 cash from the issue of common stock.
4. Purchased inventory for $6,700 cash.
6. Sold inventory costing $4,020 for $6,834 cash.
8. Paid $700 for advertising expense.

Required

2. Record the general journal entries for the preceding transactions.
4. Post each of the entries to T-accounts.
6. a trial balance to prove the equality of debits and credits.