Record Journal entries for these transactions, posting, trail balance and finally prepare the related financial Statement (balance sheet and income statement) TRANSACTION (1). Ray Neal starts a smartphone app development company which he names Softech. On September 1, 2017, he invests $15,000 cash in the business to issued common stokes. TRANSACTION (2). Softech purchases computer equipment for $7,000 cash. TRANSACTION (3). Softech purchases for $1,600 from Mobile Solutions headsets and other computer accessories expected to last several months. Mobile Solutions agrees to allow Softech to pay this bill in October. TRANSACTION (4). Softech receives $1,200 cash from customers for app development services it has preformed TRANSACTION (5). PURCHASE OF ADVERTISING ON CREDIT Softech receives a bill for $250 from the Daily News for advertising on its online website but postpones payment until a later date. TRANSACTION (6). Softech performs $3,500 of app development services for customers. The company receives cash of $1,500 from customers, and it bills the balance of $2000 on account. TRANSACTION (7). S Softech pays the following expenses in cash for September: of ce rent $600, salaries and wages of employees $900, and utilities $200. TRANSACTION (8). Softech pays its $250 Daily News bill in cash. The company previously [in Transaction (5)] TRANSACTION (9). Softech receives $600 in cash from customers who had been billed for services [in Transaction (6)]