This is to find the journal entries and to form the T-account

Rolling Wheels sells bicycles from around the world online to Canadians. (Transaction N1) The Investors put purchase 2 different models of $2,998,899 in the company. The money was used to as follows: bicycles Model 2 Ascend Pro 1 3 Ascend Pro 2 Quantity 260 17 Price purchased ench $2,850 $13,125 Over the course of the next year they had the following sales: How are customers paying Number of units not paid for at present Model Quantity Price sold each Current status 4 Ascend Pro 1 66 $5,558 On credit Paid entirely 5 Ascend Pro 2 4 $28,219 Cash Paid entirely 6 Ascend Pro 2 5 $25,961 On credit 2 Outstanding 7 Ascend Pro 1 65 $5,225 On credit 32 Outstanding 8 Ascend Pro 1 129 $4,598 On credit 66 Outstanding (Transaction #9) 9 employees work for the company. They have been paid in full. Number of employees Pay /employee From these employees S averaged $24,704 and the other 4 averaged $43,232 over the period in question Over the course of the year they will spend the following: # Payment 10 Utilities expense 11 Rent expense 12 Internet expense 13 Promotional expense 14. Legal fees 15 Equipment Amount US$12,352 US$14,411 US$9,264 US$43,233 US$15,749 US$23,159 Payment Method Cash, nothing due On credit, still outstanding cash, nothing due On credit, still outstanding On credit, still outstanding Received loan from bank TA