Prepare in excel a workbook with the following:

1. Journal Entries
2. Trial Balance
3. Income Statement
4. Balance Sheet

Accounting Transactions:

1. Interest expense for the month was $65,500.
2. Wire was sent toPitney Bowesfor postage $25,000.00 from this amount $19,200 was used in the current month.
3. Bankcard fees for this month was $3,525.
4. Accrue commissions payable to one of our employees. Per contract, he gets 20% of net sales. Sales for this month is $250,000
5. Best Pressproduced and shipped 2,000 catalogs for the upcoming movie poster auction # 2520 to take place on December 18, 2018.

Total catalog expense was $45,000

Shipping charges for catalogs was $2,500

1. Computer was sold to one of our employees. Amount of sale $450. The original price of the computer was $2,500; it was fully depreciated.
2. An employee requested a personal loan for $500. A check was issued.
3. The seller's commission for the Comic Auctions is 15% of the prices realized. The total prices realized of sale # 1225 was $1,250,000 (seller's commissions are paid by the consignors). Accrue the commissions.
4. Client's invoice included $225 in shipping charges; however, client decided to picked up lot. We need to refund client the shipping charges.
5. Wire 510570 was sent to XYZCoinsto purchase inventory $35,000.
6. Reverse prior month seller's commission accruals. $96,250 was accrued last month.
7. Property taxes accrual for the year is $625,000. Record this month accrual.
8. Wire was sent toState Comptroller$15,250 for sales taxes.
9. Accrue interest payable to shareholder. Interest will be paid at year end. Loan amount was $500,000, interest rate 5%.
10. We bought office furniture fromOffice Depot$2,100.
11. We paid some employee's meals from the petty cash account $45
12. We renew our commercial insurance. The annual premium is $80,000. Record this month insurance.
13. Write off some uncollectable receivables $1,200.
14. Client paid cash for his invoice $750.
15. Auction advance was issued to client $5,000. We will charge him 10% interest rate.

Book advance and the interest accrued for this month (30 days).