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Milo Clothing experienced the following events during Year 1, its first year of operation: 1. Acquired $30,000 cash from the issue of common stock. 2. Purchased inventory for $15,000 cash. 3. Sold inventory costing $9,000 for $20,000 cash. 4. Paid $1,500 for advertising expense. Required a. Record the general journal entries for the preceding transactions. b. Post each of the entries to T-accounts. c. Prepare a trial balance to prove the equality of debits and credits. A Record entry for issuance of common stock. B Record the entry of inventory purchased for cash. C Record sale of inventory for cash. D Record entry for cost of goods sold. E Record entry for advertising expenses paid. Required A Required B Required Post each of the entries to T-accounts. Cash Inventory Beg. Bal Beg. Bal End, Bal End. Bal Common Stock Beg. Bal Sales Revenue Beg. Bat. End. Bal End. Bal. Cost of Goods Sold Beg. Bal Advertising Expense Beg, Bal End. Bal End. Bal. Prepare a trial balance to prove the equality of debits and credits. MILO CLOTHING Trial Balance December 31, Year 1 Account Titles Debit Credit Totals $ 0 $ 0