This is a new manufacturing corporation that issued $50000 common stock for cash on the first day. All overhead expenses are paid immediately by cash. To make it easy, there are no other operating expenses and no income tax. No Dividend is declared for the year. Post all journal entries in the General Ledger T-accounts and using their respective balances prepare an Income Statment and Balance Sheet for the first month of the operation. Use a blank paper for posting into General Ledger and preparation of the financial statements. Click in the accante sections of the journal entry and select the cat aces to be debited and credited from the pick nt. Cerret debit credit selectio Assume the business commenced operations January 1, and the mary would appear in Sancial statements as of the end of January. Correct sales w GENERAL JOURNAL Accents ACCOUNT TO BERI During Jan Credit GENERAL JOURNAL Date Accents Crude ACCOUNT TO DENT During J ACCOUNT TO CRE ACCOUNT TO CREDIT ACCOUNT TO CREDIT GENERAL JOURNAL Date Accents Credi ACCOUNT TO BENIT During ACCOUNT TO CHERY GENERAL JOURNAL Date A Credit ACCOUNT TO DEBIT During J ACCOUNT TO CREDIT GENERAL JOURNAL Acc Debit Credi ACCOUNT TO DENT During Jan ACCOUNT TO CREDIT Question 4 How much is the total Asset for the company in its Balance Sheet? 1 pts