PLEASE Explain Transaction that took place on September 2nd. " On sept 2, The law firm paid first and last month rent total of $4000 for a 5 year lease" Please explain how it will be recorded in journal entry on Sept 2nd, and then how will it be adjusted later on Sept 30 month end. How will it be recorded in balance sheet and income statement for the month of september. Thank you.

Consider the following transactions for the first month of operations of a small 1 aw firm called Landon Law. Sept 2 The 1aw firmpaid first and 7ast month rent total of $4,000 of a 5 year 1 ease. Sept 3 Paid $4,800 insurance for the period sept 1 Aug 31 ( 1 year) Sept 4 Purchased office supplies on account, $320 Sept 5 Purchased on account, equipment costin Sept7Sept9Paid$3900foracomputerandprinterPerformedlegalworkonaccountintheamountof$4,700 Sept 10 Received $200 for legal work that was done sept 9 Sept 16 Received $15,000 for a legal retai SeptSeptSept182021Receivedautiijtybi71for$175,withaduedateoct10Borrowed$36,000fromthebank,withaninterestrateof6%peryearRecejved$500onaccountfor1egalworkprovidedSept9 Sept 25 Paid $750 on account for equipment purchased Sept 5 Sept 29 Paid $200 for advertising Adjusting Entries at month end 1. Supplies at the end of September were $50.00 2. Use straight-7ine depreciation method on the desks 3. The depreciation for the equipment and computer were $50 and $80 respectful7y 4. One-month insurance was used up 5. Earned $3,000 from the advance that was received 6. Calculate interest expense on bank loan Prepare the fol7owing: 1. Prepare the journal entries for the month of september 2. Post the entries into the general 1 edger 3. Prepare an unadjusted trial balance 4. Prepare the adjusting entries for the end of September 5. Prepare an adjusted trial balance 6. Prepare income statement, Statement of changes in owners Equity and a classified balance sheet 7. Prepare closing entries