Part 3: Using transactions provided in the worksheet below, complete the following: (1) create journal entries for your company using the template provided; (2) complete the Trial Balance at January 31, 2018 using the same template: and (3) Write a short 1-page report explaining the importance of a Trial Balance and what you discovered. Embed your Trial Balance from part (2) into your report.

B 125% ZOOT View Add Category Insert Table Chart Text Shape Media Comment Collaborato >> Format Organiz Text Arrang + Transactions Journal Trial Balance Table Cell A e D E F G H 1 . L M z N Q 1 1 Transactions 2 3 June 1st ABC Company receives $50,000 cash from the owner as a contribution. 4 5 Jund 3rd ABC Company pays $32,000 cash for equipment. LCD June 5th ABC Company purchases $15,000 of merchandise inventory on credit from a supplier. Table Styles Junc 8th ABC Company pays $ 800 in cash for employee salary, 6 7 7 8 9 10 11 12 13 14 Table Options June 11th ABC Company pays $15,000 cash to settle the account payable created on June 5th. Title Caption Junc 15th The owner withdraws $1,000 cash from ABC Company for personal use. June 19th ABC Company sold merchandise inventory that had cost $8,000 for $11,000 cash (Note: This transaction will require two joumal entries). Headers & Footer June 24th ABC Company pays $560 cash for this month's utilities. HO TO O mo Junc 27th ABC Company pays $6,000 cash (insurance premium) for a 6-month insurance policy. Coverage begins July 1st. 15 15 17 16 19 20 21 22 22 24 25 June 30th ABC Company pays $2,000 cash for rent. Rows 39 Columns 17 Table Font Size A 26 27 29 29 Table Outline C 1 pt Outline Table Title 31 32 33 14 35 36 32 Gridlines 39 39 D Alternating Row Color Row & Column Size Height 14 pt Fit Width 53 pt Fit