urgent

1) Which one of the basic accounting prineiples might be referred to the recording of the equipments at their original value in the accounting system by Kate in the case study stated below? Kate Browne, president of Hair It Is Inc., has just rented space in a shopping mall in which she will open and operate a beauty salon. A friend has adviced Kate to purchase beauty equipments from a confidential supplier. Based on the advise of her friend, she has purchased some beauty equipments at the amount of 50.000$ which were the original value of the equipments and recorded these equipments as assets in her companies' accounting records at the amount of 50.000$. 2) Transactions (1-31 March, 2021) 1) Sheena Bright invests $30,000 cash to start a new business as a sole proprietorship named Smart Touch Learning on March,1. 2) Smart Touch Learning purchases land for an office location, paying cash of $20,000 on March, 3 . 3) Smart Touch Learning buys office supplies on account, agreeing to pay $500 within 30 days on March,5. 4) Smart Touch Learning earns service revenue by providing training services for clients. The business earns $5,500 of revenue and collects this amount in cash on March, 11. 5) Smart Touch Learning performs a service for clients who do not pay immediately. The clients promise to pay $3,000 within one month on March, 18. 6) Smart Touch Learning pays $3,200 in cash expenses: $2,000 for office rent and $1,200 for employee salaries on March, 21. 7) Smart Touch Learning pays $300 to the store from which it purchased office supplies in Transaction 3 on March, 25. 8) Smart Touch Learning now collects $2,000 from the client from Transaction 5 on March, 27. 9) Smart Touch Learning pays a dividend of $5000 to Sheena Bright in cash on March, 31. Required: - Record journal entries for the transactions stated above and post them to general ledgers. - Do the basic accounting equation of Smart Touch Learning Company. - Prepare the trial balance of Smart Touch Learning for March 31, 2021. PS: Please look at the next pages for the recording templates of general journal, general ledger and the trial balance