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The following events occur during August: a. Webworks decides to begin selling a limited selection of inventory items related to its business. During August, Webworks purchases specialty keyboards for $4,900 on account and flash drives for $3,200 on account with the hopes of selling them to its Web site customers or others who might be interested. Due to the limited amount of inventory, Webworks will use a periodic system. Record these purchases. b. Webworks purchases supplies worth $100 on account. c. Webworks starts and completes six more Web sites and bills clients for $2,700. d. Recall that in July. Webworks received $500 in advance to design two Web sites. Webworks completes these sites during August. e. Webworks collects $2,400 in accounts reccivable. f. Webworks pays Nancy $600 for her work during the first three weeks of August. g. In June, Webworks designed a site for Pauline Smith and billed her. Unfortunately, before she could finish paying the bill, Ms. Smith's business folded. It is unlikely Webworks will collect anything. Record the entry to write off the $100 remaining receivable from Ms. Smith. h. Webworks sells keyboards for 54,500 and flash drives for $3,000 cash. i. Webworks pays off its salaries payable from July. j. Webworks pays off $6,000 of its accounts payable. k. Webworks receives $100 in advance to work on a Web site for a local dentist. Work will not begin on the Web site until September. 1. Webworks pays Leon salary of $2,000. m. Webworks pays taxes of $475 in cash. Required: A. Prepare journal entries for the above events. B. Post the journal entries to T-accounts. C. Prepare an unadjusted trial balance for Webworks for August. D. Prepare adjusting entries for the following and post theen to your T-accotmts. n. Webworks owes Nancy $250 for her work during the last week of August. 0. Leon's parents let him know that Webworks owes $250 toward the electricity bill. Webworks will pay them in September. p. Webworks determines that it has $60 worth of supplies remaining at the end of August. q. Prepaid rent should be adjusted for August's portion. r. Webworks is continuing to accrue bad debts at 10 percent of accounts receivable. s. Webworks performs a count of ending inventory and determines that $1,900 in keyboards and $1.100 in flash drives remain. Record cost of goods sold. E. Prepare an adjusted trial balance. F. Prepare financial statements for August