Question: REQUIRED: 1. Analyze each transaction and record it in the general journal. 2. Post the transactions to T accounts. 3. Prepare an adjusted trial balance

REQUIRED: 1. Analyze each transaction and record it in the general journal. 2. Post the transactions to T accounts. 3. Prepare an adjusted trial balance as at July 31. 4. Prepare an income statement for the month. 5. Prepare a statement of changes in equity. 6. Prepare a classified statement of financial position. (Note: $48,000 of the bank loan is due within the next year.) 7. Prepare closing journal entries. 9. Post the closing entries to T accounts. 10. Prepare a post closing trial balance

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