(7 pts) Comprehensive problem: identify, analyze, and record transactions, post to T-accounts, and prepare an unadjusted trial balance: Suppose Waltzing Along, Ltd. identified the following transactions during October 2017, the companys first month of operations:

10/1/17: Borrowed $75,000 in cash from the bank, signing a note payable.

10/3/17: Purchased inventory worth a total of $23,000 from suppliers. 1/2 of this inventory was purchased on account, and the other 1/2 of this inventory was paid for in cash.

10/7/17: Sold inventory, which originally cost $13,035, for $13,960 on account to customers.

10/17/17: Paid $7,690 in cash to suppliers from transaction b.

10/23/17: Received $8,300 cash payment from customers in transaction c.

10/31/17: Paid $450 cash for utilities used in October.

PART 1 Account Identification and transaction analysis (1.5pts): 1) Prepare a transaction worksheet summarizing all of the transactions listed above for Waltzing Along, Ltd. HINT: After you record each transaction, make sure the accounting equation remains in balance!

	Assets			=	Liabilities		+	Stockholders Equity
	Cash	Accounts Rec. (A/R)	Inventory		Accounts Payable (A/P)	Notes Payable		Common Stock	Retained Earnings
									Rev.	(Exp.)	(Div.)
10/1	$0	$0	$0		$0	$0		$0	$0	$0	$0
a.
b.
c.1.
c.2.
d.
e.
f.
10/31

PART 2 Record transactions using journal entries (2pts): Record all of the above transactions using journal entries (HINT: there will be two separate journal entries to record for transaction c.). Assume Waltzing Along, Ltd., uses the following accounts: Cash, Accounts Receivable (A/R), Inventory, Accounts Payable (A/P), Notes Payable, Sales Revenue, Cost of Goods Sold (COGS), and Utilities Expense.

PART 3 Post transactions to T-Accounts (2pts): Post each of the above transactions to T-Accounts and calculate the ending account balances in each T-account. Since this is Waltzing Along, Ltd.s first month of operations, assume the opening balance in each T-account is zero ($0).

PART 4 Prepare an unadjusted trial balance (1.5pts): After calculating the ending balance in each T-account in part 3, prepare an unadjusted trial balance for Waltzing Along, Ltd. as of October 31, 2017 with the list of accounts in the following order: assets, liabilities, common stock, revenues, and expenses.