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The chart of accounts of Mels Delivery Service includes the following: Cash, 111; Accounts Receivable, 112; Office Equipment, 121; Delivery Trucks, 122; Accounts Payable, 211; Mel Free, Capital, 311; Mel Free, Withdrawals, 312; Delivery Fees Earned, 411; Advertising Expense, 511; Gas Expense, 512; Salaries Expense, 513; and Telephone Expense, 514. The following transactions resulted for Mels Delivery Service during the month of July 2023: A. Mel invested $10,000 in the business from his personal savings account. B. Bought delivery truck on account, $17,000. C. Advertising bill received but unpaid, $700. D. Bought office equipment for cash, $1,200. E. Received cash for delivery services rendered, $15,000. F. Paid salaries expense, $3,000. G. Paid gas expense for company trucks, $1,250. H. Billed customers for delivery services rendered, $4,000. I. Paid telephone bill, $300. J. Received $3,000 as partial payment of Transaction H. K. Mel paid home telephone bill from company chequebook, $150. As Mels newly employed accountant, you must do the following: 1. Record transactions in the T accounts. (Place the letter of the transaction next to the entry.) 5 marks 2. Prepare from the trial balance, in proper form, (a) an income statement for the month of July, (b) a statement of owners equity, and (c) a balance sheet as of July 31, 2023. 5 marks

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