XYZ company has done the following transactions for the months July, August and september. 1st July Opening inventory balance in $ 2000 10th July Purchased inventory on credit $ 5000. 15th July Paid electricity till 30 th August $ 3000.Charges per month $ 1000. Aug 1st Sales on credit $ 5000. Aug 10th Sales on cash $ 12000. August 15th Salary paid $ 1000 Pass journal entries, prepare necessary ledger accounts, COGS statement, income statement and balance sheet for the period ended 30th September after considering the following. Closing inventory $ 1000. Capital $ 10000 Cash $ 10000.