Red Company started its operations on January 1, 2020. The following transactions took place during the first month of operations: January 1: Red invests $2,300,000 cash to start the business. January 5: Purchased furniture for $248,000, paying $48,000 in cash and sign a note for the remaining balance. January 9: Purchased office supplies for $10,000 on credit. January 12: Paid $22,000 cash for January rent. January 16: Paid $2,700 cash for office supplies purchased on January 9. January 22: Services billed to customers amount to $48,000. January 23: Received utility bills for $5,250 for the month of January. January 27: Paid $23,700 cash as salaries for the month. January 29: The owner withdrew $7,800 from the business for personal use. January 31: Received $33,000 cash from customers in payment for services billed on January 22. Required: 1. Prepare Journal entries to record the above transactions. 2. Post to the appropriate ledger accounts. 3. Prepare the trial balance on January 31, 2020. 4. Prepare the financial statements of Red Company on January 31, 2020. (1.5 marks) (1.5 marks) (1 mark) (1 mark)