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. 11/01/2020: Pedal Pushers purchases a 12 month insurance policy to insure the business, paying $1,800 11.022020: 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 vahue. 11/04/2020: The POS system arrives and the trucking company presents a freight invoice of $92; which Pedal Pushers pays. 11/04/2020: Pedal Pushers borrows $15,000 from their bank. The amount must be paid back in 90 dsys with 5% interest. 11/04/2020: Pedal Pushers buys office supplies for $590. 11/04/2020: Pedal Pushers purchases 100$85 Pro-Cycle bikes (regular size) and 60$95 ProCycle bikes (XL size) on account from Discount Distribution LLC, terms 4\%/15, Net 30, FOB Destination. Pedal Pushers is selling the regular size bike for $165 and the XL size bike for $185. The inventory should be delivered 119/2020. 11055/2020: Pedal Pushers purchases 55 regular size $12 bike helmets and 25 XL size $15 bike helmets from Outitters Wholesale Corp., terms 3%10, Net 30 , FOB Destination. The helmets should arrive 11/9/2020. The company will charge customers $24 for the regular size and $30 for the larger sice. 11/09/2020: Both purchases froge the 4e and the 5th arrive at the shop. 11/12/2020: Customer buys a regular size bike, paying eash. 11/14/2020: Customer buys 2 XL bikes, paying cash. 11/21/2020: Pedal Pushers pays for the purchase made on the 4. 11/22/2020: Customer buys 2 regular sized bikes and 2 regular sized helmets, paying cash. 1i 2sizo20: Pedal Pusbers pays $1,265 to Make Your Mark Advertising; the agency has made a website and brochures for Pedal Pushers. The agency will chargo a monthly service fee to maintain and update the website. 11/30/2020: A count o office supplies shows that $320 are remaining. 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. 12/01/2020: Sell on account to Walker Fitness Gym, terms 1/15, n/30, the following: 36 Regular Bikes, 36 Regular Helmets, 14 XL Bikes, 14 XL Helmets. 12/02/2020: Pay for the helmet purchase that was made November 5th.. 12/03/2020: Purchase on account, terms 2/15,n/30, FOB Destination from Discount Sports Distribution the following items, and received the same day: - 30 Regular Bikes for $92 /each - 16 XL Bikes for $101/ cach - 80 Regular Helmets for \$13/each - 40 XL Helmets for $14/ each 1200/2020: Sold to cash customers 6 XL Bikes, 5 XL Helmets, 3 Regular Bikes, and 4 Regular Helmets. 12/5/2020: Sold to cash customers 22 Regular Bikes, 18 Regular Helmets, and 5 XL Bikes. 12/6/2020: Paid the bill for the purchase of the Point-of-Sale system. 12/8/2020: Received a utilities bill for the bundled phone/internet for the shop. Paid it the same day; $245. 12/10/2020: Sold to cash customers 19 Regular Bikes, 2 Regular Helmets, 12 XL Bikes, 6 XL Helmets. 12/11/2020: Sold on account to Ripley's Raceway Park, terms 1/15, n/30, 20 each of the 4 inventory items. 12/12/2020: Received payment from Walker's Fitness Gym for the entire purchase they made with us on December 1". 12/15/2020: Clint and Chelsea ofcide to take a \$2,000 dividend for each of them. They will close the shop for a few weeks to enjoy the year-end holidays and resume business the following year. Adjusting entries: you should make adjusting entries for any expense items needed. Also, a count of office supplies shows only $65 remaining. From the Adjusted Trial Balance prepared in Part 1, prepare the four financial statements, followed by closing entries, and the Post-closing Trial Balance