Record the business activity as journal entries, post to Ledgers, prepare the unadjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 11/01/2020: Chelsea contributes $25,000 cash and Clint contributes $6,000 in cash and also contributes industrial shelving and other equipment worth $19,000 (fair value). The shelving and equipment have a useful life of 10 years and no residual value. 1,000 shares of $1 par Common Stock are issued to the Partners for this transaction (equally). 11/01/2020: Pedal Pushers signs a lease with Rightway Realty for retail space and pays $6,600 for the first 6 month's rent. I 11/01/2020: Pedal Pushers purchases a 6 month insurance policy to insure the business, paying $1,500. 11/02/2020: Pedal Pushers buys a Point-of-Sale (POS) system for the cashier station, $4,500, on account with terms Net 45 FOB Shipping Point. It has an estimated 10 year life and no residual value.