Problem 1 XYZ Inc. was former on August 1, 2017 and had the following transactions for the month of August: 1. Shareholders invested $30,000 cash in exchange for ordinary shares. 2. Hired two employees to work in the warehouse. They will each be paid a salary of $3,200 per month. 3. Signed a 2-year rental agreement on a warehouse and paid $24,000 cash in advance for the first year 4. Purchased furniture and equipment costing $30,000. A cash payment of $6,000 was made immediately and the remaining balance will be paid over the next 6 months. 5. Paid $1,800 cash for a one-year insurance policy on the funiture and equipment 6. Purchased basic office supplies for $3000, $1,000 paid in cash and the remainder on account. 7. Performed services worth $18,000-$5,000 cash and $13,000 on account. 8. Paid $400 to suppliers for accounts payable. 9. Received $3,000 from customers for amounts they previously owed us. 10. Received a utility bill in the amount of $260 to be paid next month. 11. Paid monthly salaries for 2 employees, totaling $6,400. Required: Complete the provided General Journal Post journal entries to the provided General Ledger Complete the provided Trial Balance 1. 2. 3