PQR Ltd. had the following transactions in September 2023:

1. On September 2, purchased office supplies for $1,000 cash.
2. On September 8, issued bonds payable for $20,000.
3. On September 15, paid $700 for a telephone bill.
4. On September 21, received $2,200 from customers in advance for services to be performed next month.
5. On September 30, declared dividends of $1,500.

Requirements:

1. Record the journal entries for the transactions.
2. Post the journal entries to the ledger.
3. Prepare a trial balance as of September 30, 2023.
4. Prepare an income statement for September 2023.
5. Discuss how the advance payment from customers will be recognized in future periods.