Using the journal entries from Question #$1,$ post the entries to the related T$-$Accounts within the general ledger provided below. Use the following references: BB for Beginning Balance, EB for Ending Balance, and A$-$K for the events included in Question #$1.$ Formulas may include cell references only. Keyed$-$in values will be marked as incorrect.Your answers from question #$1$ are presented below. Below is a summary of January $1,2025$ account balances for Michael Scott Paper Company:ARecorded sales on account:AccountBalanceAccountBalanceAccount TitleDebitCreditCash$$220,000$ Accounts Payable$$75,000$ Accounts Receivable $($A$+)425,000$ Accounts Receivable$$20,000$ Unearned Revenue$$22,000$ Sales $(+$R$,+$SE$)425,000$ Prepaid Insurance$$12,000$ Notes Payable$$245,000$ Inventory$$120,000$ Stock$$80,000$ BInventory was sold at a cost of $$105,000($assume the sale was already recorded$)$:Equipment$$50,000$ Retained Earnings$$95,000$ Account TitleDebitCreditLand$$95,000$ Cost of Goods Sold $(-$E$,+$SE$)105,000$ Inventory $($A$-)105,000$ Ref.CashRef.Ref.Accounts ReceivableRef.D$300,00015,000$FA$425,000300,000$DCPurchased new inventory on account:H$285,0002,500$GAccount TitleDebitCredit$5,000$JInventory $($A$+)30,00065,000$KAccounts Payable $($L$+)30,000$ EB$497,500$EB$125,000$DCollected on previous sales made on account:Ref.Prepaid InsuranceRef.Ref.InventoryRef.Account TitleDebitCredit$12,00010,000$IBB$120,000105,000$BCash $($A$+)300,000$ C$30,000$Accounts Receivable $($A$-)300,0002,00045,000$EProvided paper delivery to customer that paid for their order last year:Account TitleDebitCreditRef.EquipmentRef.Ref.LandRef.Unearned Revenue $($L$-)10,000$ BBSales $(+$R$,+$SE$)10,000$ F$15,000$FPurchased equipment with cash :EB$15,000$Account TitleDebitCreditEquipment $($A$+)15,000$ Ref.Accounts PayableRef.Ref.Unearned RevenueRef.Cash $($A$-)15,000$ G$2,50075,000$E$10,00022,00030,000$CGMade payment on accounts payable:Account TitleDebitCredit$102,500$EB$12,000$Accounts Payable $($L$-)2,500$ Cash $($A$-)2,500$ Ref.Notes PayableRef.Ref.StockRef.J$5,000$HIssued stock, receiving cash from investors :$285,000$HAccount TitleDebitCreditCash $($A$+)285,000$ EB$5,000285,000$EBStock $($SE$+)285,000$ Ref.Retained EarningsRef.Ref.DividendsRef.I Incurred insurance expense that was prepaid last year :K$65,000$Account TitleDebitCreditInsurance Expense $(+$E$,-$SE$)10,000$ Prepaid Insurance $($A$-)10,00065,000$JPartial payment of notes payable.Ref.SalesRef.Account TitleDebitCreditNotes Payable $($L$-)5,000425,000$ACash $($A$-)5,00010,000$E$435,000$EBKPaid dividends to stockholders.Account TitleDebitCreditRef.Cost of Goods SoldRef.Ref.Insurance ExpenseRef.Dividends $(-$SE$)65,000$ B$105,000$I$10,000$Cash $($A$-)65,000$ EB$105,00010,000$