Question: ** NEED HELP WITH CREATING BALANCE SHEET & CASH FLOW I ALL READY DID THE ENTRIES, T ACCOUNTS, AND TRIAL BALANCE. THANKS!! The following events
** NEED HELP WITH CREATING BALANCE SHEET & CASH FLOW
I ALL READY DID THE ENTRIES, T ACCOUNTS, AND TRIAL BALANCE.
THANKS!!

The following events happen. Journalize them, post to t-accounts, prepare a trial balance, prepare financial statements 1Acquired 100,000 from the issuance of a Note Payable 2Purchased 80,000 inventory of N95 masks on account 3Received goods purchased in event 2 FOB shipping point, freight cost 1000 paid in cash 4Sold inventory on account that cost 70,000 for 140,000 5Freight Cost on the goods sold in event 4 was 700. The goods were shipped FOB destination. Cash was paid 6Customer in Event 4 returned 5000 worth of goods that had a cost of 2500 7Collected 100,000 cash from accounts receivable 8Paid 60,000 cash on accounts payable 9Paid 3,000 cash for selling expenses 10Paid 4000 cash for Insurance expense
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