Journal the three transactions and complete 1 and 2

Question 2 The following accounts and related balances of FYI Advertising Ltd. are as at December 31, 2017 prior to the closing journal entries. Accrued Liabilities Preferred Shares, $2.50, cumulative, 24,000 authorized and issued Prepaid Expenses Accounts Payable Interest Expense Trademark, net Long-term Note Payable Property, Plant, and Equipment, net Retained Earnings Accounts Receivable, net $50,400 240,000 90,000 29,000 20,400 600 3,360,000 623,600 318,000 420,000 Inventory Common Shares, 300,000 shares authorized; 200,000 shares issued 2,500,000 384,000 ganization Costs