Sweet Dreams Chocolatiers Ltd. began operations on January 1, 2024. During its first year, the following transactions occurred: 

1. Issued common shares for $200,000 cash. 

2. Purchased $475,000 of inventory on account. 

3. Sold inventory on account for $640,000. The original cost of the inventory that was sold was $380,000.
4. Collected $580,000 from customers on account. 

5. Paid $430,000 to suppliers for the inventory previously purchased on account. 

6. Bought a delivery vehicle for $36,000 cash. 

7. Paid $26,000 for rent, including $2,000 related to the next year. 8. Incurred $20,000 of operating expenses, of which $18,000 was paid. 

9. Recorded $2,000 of depreciation on the vehicle. 

10. Declared and paid dividends of $6,000.

Required 

a. Prepare journal entries to record each of the above transactions. 

b. Create T accounts and post the journal entries to the T accounts. 

c. Prepare a December 31, 2024, trial balance.