Sandy Bell opened a Zip Line eco-adventure park in July. The following transactions occurred in the first month of operations: July 1 July 1 July 2 July 5 July 8 July 9 July 12 July 16 July 18 July 20 July 21 July 26 July 28 July 31 Required: a.) b.) c.) Sandy invested $1,000 cash in exchange for 50 common shares. Purchased equipment on account - $15,000 due August 1. The company borrowed $25,000 in the form of a long-term bank loan. The money was planned to pay off the equipment loan. Purchased insurance for the year: paid $8,000 cash. (Note this amount should not be expensed as it represents an asset to the company. Paid off equipment purchased on July 1. Took first group through an adventure tour. Collected $1,000 cash. Purchased fuel: $500 cash. Purchased supplies: $100 cash. Sandy took a cash dividend of $1,000 to pay for personal expenses. Received but did not pay the telephone bill, $200. Took another tour group out. Billed the group $2,000. Payment has not yet been received. Received a utilities bill: $250. Did not pay yet. Took out a tour group. Received payment in full: $1,500. Paid employees salaries of $3,000. Record all necessary journal entries based on the transactions above. Post the transactions to T-Accounts. Prepare a trial balance dated July 31.