Accounting Problem

Initial Capital $20,000

Purchased equipment on a Long-Term Payable Note $12,000

Sales in cash $1,000

Paid rent in cash $760

Sales on credit $800

Paid salaries to employees in cash $370

Purchased supplies on credit $400

Required:

1. Prepare a summary of the above and post the transactions. Use columns like Cash, Accounts Receivable, Accounts Payable, Notes Payable, Capital Stock, Revenues, Expenses, etc.

2. Prepare an income statement for April 2017.

3. Prepare a balance sheet as of April 30, 2017.

Please show the steps, thank you so much