Prepare a full accounting cycle as on January 31,2021 including Journal, T accounts, Trial balance, adjusted journal, adjusted T accounts and adjusted trial balance. Also prepare Income statement,statement of changes in equity and balance sheets as on January 31,2021.

Following Transactions appeared in the books of Ara&Co. in the month of January, 2021 Transactions Date(in the month of January 1 3 5 10 12 15 Ara invested $1000 cash and $120 worth of office equipment Purchased office equipment on account, $250 Bought office supplies for cash, $140 Collected $12000 for services rendered. Ara paid her home electric bill from the company bank account, $120. Provided $10,000 worth of services to clients who will not pay until next month. Paid salaries, $600 Purchased machinery on account from Ling Corp., $1400 Paid wages, $180 Paid Ling Corp. one-half amount owed for machinery Paid rent of office, $200 20 22 25 30 Additional information- a. Prepaid rent for 6 months amounting to $3600 paid on January 1, 2021 b. Depreciation on machinery $1200 for one year