Milo Clothing experienced the following events during Year 1, its first year of operation: Acquired $10,500 cash from the issue of common stock. Purchased inventory for $6,100 cash. Sold inventory costing $3,660 for $6,222 cash. Paid $700 for advertising expense. Required Record the general journal entries for the preceding transactions. Post each of the entries to T-accounts. Prepare a trial balance to prove the equality of debits and credits