Using the Journal entry bellow, please create a Balance Sheet and T Account (preferably in a excel format).

1. Jeff Cow and 2 other friends each contributed $100,000 capital to Tom's Biking. Journal Entry: CashCapitalContributions300,000300,000 2. $48,000 was paid in advance for 1 year of rent. Journal Entry: Prepaid Rent 48,000 Cash 48,000 3. Tom's Biking purchased $60,000 of bikes and helmets (inventory) with cash. Journal Entry: Inventory 60,000 Cash60,000 4. Tom's Biking borrowed $50,000 on a 6-year, 8% annual interest loan from America Bank. Journal Entry: Cash 50,000 Notes Payable 50,000 5. Received and paid a $300 bill for a radio advertisement that aired on 4/4/23. Journal Entry: Advertising Expense 300 Cash 300 6. Purchased office supplies costing $4,000 on account. Journal Entry: Office Supplies 4,000 Accounts Payable 4,000 7. Sold a one of a kind bike worth $800 to Liam Wilson for $12,500 cash. Journal Entry: Cash 12,500 Sales Revenue 12,500 8. Purchased computers and cash registers for business use with $15,000 cash. Journal Entry: EquipmentCash15,00015,000 9. Purchased spare bike parts (inventory) for $2,000 on account. Journal Entry: 10. Paid cash for half of office supplies purchased on credit earlier in the month. Journal Entry: Accounts Payable (Office Supplies) 2,000 Cash 2,000 11. Sold $3,000 of bikes to Henry Foster for $8,000 on account with terms 2/10,n/30. Journal Entry: Accounts Receivable (Henry Foster) 8,000 Sales Revenue 8,000 12. Jackson's Biking established a petty cash fund in the amount of $1,000. Journal Entry: Petty Cash 1,000 Cash 1,000 13. Sold $5,000 of bikes to Ava Reed for $12,000 on account with terms 2/10,n/30. Journal Entry: Accounts Receivable (Ava Reed) 12,000 Sales Revenue 12,000 14. Henry Foster paid Tom's Biking for the bikes purchased earlier in the month. Journal Entry: Cash 8,000 Accounts Receivable (Henry Foster) 8,000 15. An analysis of inventory indicated that some bikes were obsolete (i.e., damaged by a customer) and recorded above market value. An inventory write-down of $1,000 is required. Journal Entry: Cost of Goods Sold 1,0001,000 Inventory 16. Tom's Biking sold 3 gift cards for $500 each. No merchandise was sold at this time. Journal Entry: CashUnearnedRevenue1,5001,500 17. Sold a bike and helmet worth $500 total to James Young for $1,800. Journal Entry: 18. Received $2,700 from a customer for 3 bikes to be delivered in August. Journal Entry: Cash 2,700 Unearned Revenue 2,700 19. Ava Reed paid Tom's Biking for purchases earlier in the month. Journal Entry: Cash 12,000 Accounts Receivable (Ava Reed) 12,000 20. Returned $900 of spare parts back to the supplier from the 4/7 transaction. Tom has not receivec the cash refund yet. Journal Entry: Accounts Payable 900 Inventory 900 21. Sold $500 of bike tires to Ben Rogers for $700 on account with no discount terms. Journal Entry: Accounts Receivable (Ben Rogers) 700 Sales Revenue 700 22. James Young returned the bike and helmet purchased earlier in the month. Tom offered a full refund to James. Journal Entry: Sales Returns and Allowances 1,800 Cash 1,800 23. Petty Cash was replenished for $800 to cover a promotion made at a Jets game (advertising expense). 24. Paid wages to employees for April totaling $18,000. Inrnal Fntru. 25. Paid dividends totaling $3,000. 1. Jeff Cow and 2 other friends each contributed $100,000 capital to Tom's Biking. Journal Entry: CashCapitalContributions300,000300,000 2. $48,000 was paid in advance for 1 year of rent. Journal Entry: Prepaid Rent 48,000 Cash 48,000 3. Tom's Biking purchased $60,000 of bikes and helmets (inventory) with cash. Journal Entry: Inventory 60,000 Cash60,000 4. Tom's Biking borrowed $50,000 on a 6-year, 8% annual interest loan from America Bank. Journal Entry: Cash 50,000 Notes Payable 50,000 5. Received and paid a $300 bill for a radio advertisement that aired on 4/4/23. Journal Entry: Advertising Expense 300 Cash 300 6. Purchased office supplies costing $4,000 on account. Journal Entry: Office Supplies 4,000 Accounts Payable 4,000 7. Sold a one of a kind bike worth $800 to Liam Wilson for $12,500 cash. Journal Entry: Cash 12,500 Sales Revenue 12,500 8. Purchased computers and cash registers for business use with $15,000 cash. Journal Entry: EquipmentCash15,00015,000 9. Purchased spare bike parts (inventory) for $2,000 on account. Journal Entry: 10. Paid cash for half of office supplies purchased on credit earlier in the month. Journal Entry: Accounts Payable (Office Supplies) 2,000 Cash 2,000 11. Sold $3,000 of bikes to Henry Foster for $8,000 on account with terms 2/10,n/30. Journal Entry: Accounts Receivable (Henry Foster) 8,000 Sales Revenue 8,000 12. Jackson's Biking established a petty cash fund in the amount of $1,000. Journal Entry: Petty Cash 1,000 Cash 1,000 13. Sold $5,000 of bikes to Ava Reed for $12,000 on account with terms 2/10,n/30. Journal Entry: Accounts Receivable (Ava Reed) 12,000 Sales Revenue 12,000 14. Henry Foster paid Tom's Biking for the bikes purchased earlier in the month. Journal Entry: Cash 8,000 Accounts Receivable (Henry Foster) 8,000 15. An analysis of inventory indicated that some bikes were obsolete (i.e., damaged by a customer) and recorded above market value. An inventory write-down of $1,000 is required. Journal Entry: Cost of Goods Sold 1,0001,000 Inventory 16. Tom's Biking sold 3 gift cards for $500 each. No merchandise was sold at this time. Journal Entry: CashUnearnedRevenue1,5001,500 17. Sold a bike and helmet worth $500 total to James Young for $1,800. Journal Entry: 18. Received $2,700 from a customer for 3 bikes to be delivered in August. Journal Entry: Cash 2,700 Unearned Revenue 2,700 19. Ava Reed paid Tom's Biking for purchases earlier in the month. Journal Entry: Cash 12,000 Accounts Receivable (Ava Reed) 12,000 20. Returned $900 of spare parts back to the supplier from the 4/7 transaction. Tom has not receivec the cash refund yet. Journal Entry: Accounts Payable 900 Inventory 900 21. Sold $500 of bike tires to Ben Rogers for $700 on account with no discount terms. Journal Entry: Accounts Receivable (Ben Rogers) 700 Sales Revenue 700 22. James Young returned the bike and helmet purchased earlier in the month. Tom offered a full refund to James. Journal Entry: Sales Returns and Allowances 1,800 Cash 1,800 23. Petty Cash was replenished for $800 to cover a promotion made at a Jets game (advertising expense). 24. Paid wages to employees for April totaling $18,000. Inrnal Fntru. 25. Paid dividends totaling $3,000