The following are the transactions Economy Small Engine Repair (ESER) entered into from August 1 to September 30, 2020 . On August 1, Bob invested $10,000 of his savings in ESER in return for common shares. Iyou have advised Bob to incorporate) . Bob's sister was interested in helping get him started so on August 9, she invested 55,000 in Economy Small Engine Repair in return for common shares. Also on August 9, Bob purchased and paid $2,500 for the computer equipment necessary to run ESER. The supplier of the computer equipment advised you can expect to use it for 5 years before it will require replacement . On August 20. you purchased repair equipment including work benches, shelving various Specialty tools and an engine analyzer. The total cost of the equipment from one supplies (not including an analyzer) was $4,750 and payment was due September 30. It will last 5 years The analyzer costs $350 from a different supplier due September 30 as well. It will last three years. . On August 28, you purchased the inventory (parts, oils and cleaners, etc.) necessary to make engine repairs. As ESER is a new business, none of the parts supply businesses would extend credit. Therefore, you had to pay the $2,750 at the time you picked up the inventory items On September S Bob consulted with a parts supplier to see if he could get a small Giscount on purchases and not have to pay cash. . On September 10, Bob borrowed $5,000 from the Royal Bank. The loan is to be repaid on October 1, 2022 On September 18, you paid $475 to have posters printed advertising ESER's services . On September 27, you paid the amount due for the purchase of the repair equipment from August 20 On September 30, Bob paid himself $1,000 Total cash sales for September 1 to September 30 were $3,300. Economy Small Engine Repair also provided repairs to a couple of commercial accounts that he had managed to obtain. These sales totaled $1.900 and although they have been billed, payment was not received until October On September 30, you received a cheque for $750. The cheque was a payment for repairs of a commercial client. A note attached to the cheque stated that the business thought it would make payment earlier than the October 2020 due date as the owner remembers how difficult the first few months of running a new business can be Tasks 1. You are a bit behind, but you decided to journalize the transactions described above in good form) all at the same time. You remember your instructor telling you that means the journal entries must be dated properly formatted and must include a brief explanation for each transaction. If a transaction did not affect the accounting equation and should not be journalized as a result, you decided to note that no journal entry was necessary as a reminder to yourself 2. Alter journalizing the transactions for August 1 to September 30, 2020, you then decided to post the transactions to accounts. 3. Lastly, using the account balances determined in task 2. you sat down to prepare the September 30, 2020 trial balance