The transactions of Medina Information Service are recorded in the general journal below. You are to post the journal entries to the accounts in the general ledger. After all entries have been posted, you are to prepare a trial balance on the form provided. 
Definitions:
Maximize Profits
The process of increasing the difference between total revenue and total costs to reach the highest possible financial gain.
Identical Costs
Costs that are the same in value or magnitude for different firms or production processes.
Price Elasticity
An economic measure of the change in the quantity demanded or purchased of a product in relation to its price change.
Marginal Cost
The cost of producing one additional unit of a good or service, a concept that is crucial in economic decision-making and pricing strategies.
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