Required: Prepare... 1) Prepare "during the period" journal entries 2) Post journal entries to accounts 3) an Unadjusted Trial Balance 4) Record adjusting journal entries 5) Adjusted Trial Balance 6) Record closing journal entries 7) Post-Closing Trial Balance 8) all financial statements

January Transactions: a) Issued $150,000 of common stock b) Borrowed $65,000 from the Southern Utah Bank at 10% interest (payable annually) due in 5 years c) Purchased equipment for $33,000 cash expected to last 10 years with a salvage value of $5,000 d) Purchased supplies for $5,000 cash expected to last 1 year e) Paid rent for the next 6 months in advance for $44,000 f) Rented office equipment for the year for $15,000 (due at end of the year) g) Purchased merchandise from Joe's Supply for $53,000 on account h) Hired an employee for $45,000/year i) Hired an employee for $9.00/hour j) Sold merchandise costing $35,000 for $45,000.$20,000 was cash sales k) Pre-sold merchandise costing $4,000 for $7,500 that will be shipped next month l) Made payment of $22,000 to Joe's Supply m) Collected $8,000 of receivables n) Used $450 of supplies Additional Info: Hourly employee worked 40 hours/week for 4 weeks All wages/salaries won't be paid until the end of the first week of February