should choose your own unique company name. Note that the capital and drawings accounts will now be called "YourLastName, Capital" and "YourLastName, Drawings". After researching the different forms of business organization, you decide to operate your business as a proprietorship. You then start the process of getting the business running. During the month of December 2021, the following activities take place: Dec 1 You purchase a commercial juicing machine that costs $1,450 using money from your own personal bank account. Thelmachine will be used exclusively in your new business 9 12 You open up a business bank account and deposit $1,800 from your personal bank account Realizing your initial cash investment won't be enough, you borrow $2,500 from your mom, depositing it into the business bank account. As part of the deal, you sign a one-year note payable in the name of the business. in the hopes of generating some revenue, you pay $250 cash to advertise in the community newspaper You buy supplies such as protein powder, cups, straws, and fresh fruit and vegetables, by paying $350 cash You make and deliver your first batch of juice drinks to Fred's Yoga Studio and you leave an invoice for $425 with the studio owner. The invoice is payable within 30 days 17 21 28 A $135 invoice is received for your business cell phone for cell service for the month of December 29 30 Fred's Yoga Studio pre-ordered another batch of juice drinks, for delivery next month on Jan, 15th, and paid you a $225 cash advance for that order To celebrate your first month of operations, you buy yourself new workout gear for $175 using a business cheque, so that the money come out of the business bank account Instructions Prepare journal entries in the general journal to record the transactions Post the entries to general ledger accounts Ricepare a trial balance as at December 31, 2021