Trafalgar Estate Agency started operations on January 01, 2020. The following transactions occurred in the first month of operations: January 01 Owner of the business Mr. Miller invested $30,000 cash in the business.

January 03 Purchased office supplies worth $1,500 on credit.

January 06 Purchased office equipment for $7,500; paying $2,500 in cash and signed a 30-day, $5,000 note payable.

January 12 Real estate commission billed to clients amount to $12,000.

January 20 Paid cash on account for office supplies purchased on January 03.

January 27 Received a check for $4,000 from a client in payment on account for commissions billed on January 12.

January 30 Received a telephone bill for $120 due next month.

Requirements:

Enter these transactions in General Journal of Trafalgar Estate Agency.
Post these transactions to appropriate ledger accounts.
Prepare a trial balance for the month of January 31, 2020.

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?