need to answer

a, b, c, and d

LA C3-55. Preparing Adjusting Entries, Financial Statements, and Closing Entries Seaside Surf Shop began operations on July 1, 2019, with an initial investment of $50,000. During the initial 3 months of operations, the following cash transactions were recorded in the firm's checking account Cash receipts Cash payments Initial investment by owner $ 50,000 Rent ... $ 24,000 Collected from customers 81,000 Fixtures and equipment 25,000 Borrowed from bank 7/1/2019 10,000 Merchandise inventory 62,000 Total cash receipts $141,000 Salaries.. 6,000 Other expenses 13,000 Total cash payments $130,000 Additional information 1. Most sales were for cash; however, the store accepted a limited amount of credit sales, at September 30, 2019, customers owed the store $9.000. 2. Rent was paid on July 1 for six months. 3. Salaries of $3,000 per month are paid on the Ist of each month for salaries earned in the month prior. 4. Inventories are purchased for cash: at September 30, 2019, inventory worth $21.000 was available. 5. Fixtures and equipment were expected to last five years with zero salvage value. 6. The bank charges 12% annual interest (1% per month) on its bank loan. a. Prepare any necessary adjusting entries at September 30, 2019, (1) using the financial state- ment effects template, and (2) in joumal entry form. b. Set up T-accounts and post the adjusting entries to them. Prepare its initial three-month income statement for 2019 and its balance sheet at September 30, 2019. (Ignore taxes.) d. Analyze the statements from partc and assess the company's performance over its initial three months. REQUIRED