PepsiCo Inc. :

Account	Debit ($)	Credit ($)
Cash	70,000
Accounts Receivable	50,000
Inventory	100,000
Equipment	250,000
Accumulated Depreciation		50,000
Accounts Payable		70,000
Bank Loan		60,000
Capital		290,000
Total	470,000	470,000

Transactions for August 2023:

1. Purchased inventory for $60,000 on account.
2. Paid $30,000 towards accounts payable.
3. Sold inventory for $120,000 (cost of goods sold: $70,000).
4. Collected $45,000 from accounts receivable.
5. Paid $40,000 in operating expenses.
6. Paid $15,000 towards the bank loan.
7. Recorded depreciation expense of $7,000.

Requirements:

1. Journalize the transactions.
2. Post the entries to the ledger accounts.
3. Prepare an adjusted trial balance.
4. Create an income statement and a balance sheet for August 31, 2023.