Milo clothing experienced the following events during year 1, its first year of operation: acquired $16,000 cash from the issue of common stock. purchased inventory for $6,300 cash. sold inventory costing $3,780 for $6,426 cash. paid $600 for advertising expense. required a. record the general journal entries for the preceding transactions. b. post each of the entries to t-accounts. c. prepare a trial balance to prove the equality of debits and credits.