Jackie has been working for a local small business called Personal Wellness for the last three years. It is a retail business that sells sporting goods equipment. When she started to work there, she noticed several things that were possibly the cause of the business not doing as well as it hoped. Jackie has been thinking of starting her own small business because she feels she has learned much through working for Personal Wellness.

Jackie's manager asked her to create a business plan for Personal Wellness. The manager hoped that this plan would put things into perspective to help the company do better. After creating the plan, Jackie suggested that Personal Wellness contact a group of senior and graduate students to provide management counseling for the company. Jackie wants to make sure that her leaving does not become the cause of the company going under.

Refer to Personal Wellness. Wh

During march, the business engaged in the following transactions: a. borrowed $45,000 from the bank and signed a note payable in the name of the business. b. paid cash of $40,000 to acquire land. c. performed service for a customer and received cash of $5,000. d. purchased supplies on account, $300. e. performed customer service and earned revenue on account, $2,600. f. paid $1,200 on account. g. paid the following cash expenses: salaries, $3,000; rent, $1,500; and interest, $400. h. received $3,100 on account. i. received a $200 utility bill that will be paid next week. j. paid cash dividends of $1,800. required: 1.) prepare journal entries for each transaction. enter journal entries by the transaction letter. 2.) prepare the trial balance of my motors, inc. at march 31, 20xx. 3.) prepare financial statements for my motors, inc. for the period ending march 31, 20xx. (income statement and balance sheet)