Exercise $4-4$A $($Static$)$ Recording inventory transactions in the gen accounts: Perpetual system LO $4-1$

Milo Clothing experienced the following events during Year $1,$ its first year of operatio

Acquired $$30,000$ cash from the issue of common stock.

Purchased inventory for $$15,000$ cash.

Sold inventory costing $$9,000$ for $$20,000$ cash.

Paid $$1,500$ for advertising expense.

a$.$ Record the genereal journal entries for the preceding transactions.

b$.$ Post each od the entries to T$-$accounts.

c$.$ Prepare a trial halance to peoce the equality of debits and credits.