Mubarak Company started its operations on October 1, 2016. The following transactions took place during the first month of operations:

October 01: Mubarak invests $3,680,000 cash to start the business. October 03: Purchased furniture for $480,000, paying $200,000 in cash and sign a note for the remaining balance. October 08: Purchased supplies for $24,400 on credit. October 14: Paid $36,000 cash for October rent. October 19: Paid $8,400 cash for office supplies purchased on October 8. October 24: Services billed to customers amount to $208,000. October 26: Received utility bills for $44,000 for the month of October. October 29: Paid $128,000 cash for salaries. October 30: Received $160,000 cash from customers in payment for services billed on October 24. October 31: Mubarak withdrew $30,000 from the business for personal use.

Required: 1- Prepare Journal entries to record the above transactions. 2- Post to the appropriate ledger accounts. 3- Prepare the trial balance on October 31, 2016. 4. Prepare financial statements for the month.