Palisad Creek Co. is a retail business that uses the perpetual Inventory system. The account balances for pi Required: 1. Journalize the transactions of May. 2. Post the transaction to the T Accounts and balance it off. (no need to do Subledgers) 3. Prepare Unadjusted Trial Balance. 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to post adjustment entries. Required: 1. Journalize the transactions of May. 2. Post the transaction to the T Accounts and balance it off. (no need to do Subledgers) 3. Prepare Unadjusted Trial Balance. 4. At the end of May, the following adjustment data were assembled. Analyze and use these data to post adjustment entries. 4 5. Prepare an adjusted Trial Balance. (don't reflect them in the T accounts) 6. Prepare multi step income statement, statement of shareholders' equity and a balance sheet. Assume the additional common stock was $10,000 was issued in January 20Y6. 7. Journalize the closing entry. 8. Prepare a post-closing trial balance. 9. Read the financial statements prepared above and interpret your findings