Part $1$

Prepare the journal entries for each transaction.

$$Post journal entries to T$-$Accounts.

$$Prepare a Trial Balance.

Part $2$

Prepare an Income Statement for the month ending May $31,20$x$1.$

$$Prepare a Balance Sheet as of May $31,20$x$1.$

$$Record all Closing entries in journal format and then Post them to T$-$Aaccounts.

$$Prepare a Post$-$Closing Trial Balance as of May $31,20$x$1.$