NorthCo incurred the following transactions during July 20X5, its first month of operations:July 1 The owner, Greg Duggan, invested €10,000 cash. 10 Purchased €5,000 worth of equipment on credit. 12 Performed services for a client and received €20,000 cash. 14 Paid for expenses; €7,000. 15 Completed services for a client and sent a bill for €3,000. 31 The owner withdrew €500 cash.Required1.Journalize the July transactions in the General Journal.2.Post the July transactions to T-accounts.3.Prepare a trial balance based on the balances in your General Ledger accounts.4.Prepare an income statement and a balance sheet based on your trial balance.