Please help with 3 and 4.

In the project you will assume the role of the staff accountant for Shipping Inc., and perform Shipping Inc.'s accounting for the transactions that occurred during January 2021. A list of the transactions that Shipping Inc, engaged in during January 2021 is attached at the end of this assignment. As the staff accountant, you will need to: 1. Prepare journal entries for each of the attached transactions. 2. Post each of the journal entries to related T-accounts. 3. Prepare a trial balance at the end of the month. 4. Prepare any necessary adjusting entries. 5. Prepare an adjusted trial balance. 6. Prepare Shipping Inc.'s Income Statement for the month ended January 31, 2021. 7. Prepare Shipping Inc.'s January 31 closing entries. 8. Prepare Shipping Inc.'s January 31 post-closing trial balance. 9. Prepare Shipping Inc.'s Statement of Retained Earnings for the month ended January 31, 2021, and their Balance Sheet as of January 31, 2021. Shipping Inc.'s transactions during January 2021: 1. Jan. 1 - Issued 7,500 shares of no-par common stock for $14 per share. 2. Jan. 1 - Purchased a deliver van (used) for $16,000 in cash. Monthly depreciation for the van is $250. 3. Jan. 1 - Paid $3,840 for a one-year insurance policy covering the period January 1, 2021 December 31, 2021. 4. Jan. 7 - Performed repairs and maintenance on their computer equipment costing $2,000. 5. Jan. 12 - Purchased inventory on credit for $92,000. 6. Jan. 15 - Declared and paid $4,000 in dividends to its shareholders. 7. Jan. 22 - Paid $65,000 to its suppliers for inventory purchased on credit in December 2020. 8. Jan. 25 - Provided services for which a customer had paid $3,000 in December of 2020 (hint: see the deferred revenue account in the January 1, 2021 trial balance). 9. Jan. 31 - Paid its employees $45,000 for work performed from December 26 - January 25. $6,800 was for work performed in December 2020, and 38,200 was for work performed from January 1 - January 25, 2021. 10. During January Shipping Inc. collected $118,300 in accounts receivable. (Make a summary entry for the entire month). 11. During January Shipping Inc. made credit sales for $210,000. The cost of the goods sold was $125,000. (Make summary entries for the entire month). AutoSave OFF ABSU- Shipping Inc Accounting Cycle Spre Home Insert Draw Page Layout Formulas Data Review View v Times New Roman 12 ' ' Custom [D Paste B IU V V a $ % 48 C B6 4x fx A B D E Debit Credit 1 Trial Balance Summary 2 As of January 31, 2021 3 4 5 Description 6 Cash 7 Accounts Receivable 8 Inventory 9 Prepaid Insurance 10 Furniture & Fixtures 11 Computer Equipment 12 Van/Vehicles 13 Accum. Dep. - F&F 14 Accum. Dep. - Comp. Eqp 15 Accounts Payable 16 Salaries Payable 17 Deferred Revenue 18 Notes Payable 19 Common Stock I 20 Retained Earnings 21 Service Revenue 22 Sales Revenue 23 COGS 24 Maintenance Expense 25 Salary and Wage Expense 26 Total 27 a 28 29 11 30 Journal Entries T Accounts Ending Trial Balance Adjusting Entries Adjusted Trial Balance AutoSave OFF o 55 - Shipping Inc AC Home Insert Draw Page Layout Formulas Data Review View v Calibri (Body) 11 === A A General y Paste BIU V y Av 4. +- $ % ) A1 x foc Adjusting Entries A B D E G H 1 Adjusting thtries 2 3 4 5 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 230 31 71 32 Journal Entries T Accounts Ending Trial Balance Adjusting Entries Adjus AutoSave OFF osu Shipping Inc Accounting Cyd Home Insert Draw Page Layout Formulas Data Review View acd v Times New Roman v 12 v AA 0 0 Custom CD V Paste BIU v 00 >0 v vo a. Av $ % 9 B15 x fx o B D 3 d 1 Trial Balance Summary 2 As of January 1, 2021 3 4 5 Description 6 Cash 7 Accounts Receivable 8 Inventory 9 Furniture & Fixtures 10 Computer Equipment 11 Accum. Dep. - F&F 12 Accum. Dep. - Comp. Eqp 13 Accounts Payable 14 Salaries Payable 15 Notes Payable 16 Deferred Revenue 17 Common Stock 18 Retained Earnings 19 Total 20 21 22 23 24 25 26 27 28 29 30 Beginning Trial Balance Debit 107,800.00 114,300.00 89,500.00 26,000.00 16,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 353,600.00 Credit 0.00 0.00 0.00 0.00 0.00 1,200.00 6,000.00 78,400.00 6,800.00 60,000.00 5,000.00 60,000.00 136,200.00 353,600.00 Journal Entries T Accounts Ending Trial Balance Adjusting