1) The listing of the business transactions you are to record

2) Next on the project journal entry form 2) HAND record the journal entries for each business transaction listed in the Project Transactions List file 1)

3) Once you have recorded each of the journals for each transaction (or preferable after you complete each chapters journal entries) you then post each of the journal entries into the provided T account forms. You HAND post your journal entries into your general ledger T accounts form 3). I have already included in the T account forms the accounts needed to complete the project. You will have extra lines that will not be used in most accounts as the T account form pages are formatted for consistent spacing for accounts shown on the same line.

List of business transactions to record in a general journal Chapter 7 Long-Term Assets The company developed a patent for a new product they are developing. They incurred $5,000 in research and development costs; $200 patent filing fees; 800 in attorney fees for drawing up the patent documentation. Record the patent The company president asked you to report the financial position of the company as of 2/15/2022. You will not enter any adjusting entries for the month of February in the 2/15/2022 interim financial statements. You will need to: 1. Post all your handwritten journal entries by hand into chart of T accounts form. 2. Calculate each individual T account's ending balance on the T Account form. 3. Enter each account's ending balance into the provided excel worksheet to complete the Income Statement, the Balance Sheet, and the Statement of Stockholders' Equity financial statements as of 2/15/2022. 4. Confirm: a. Your journal entries match your postings into the T accounts b. Your T account ending balances match your postings to the financial statements c. Your financial statements balance - Green check provided in the excel sheet; Stockholders' Equity; Common Stock \& Retained Earnings balances (that auto posts to the Balance Shee)t balances Assets = Liabilities + Stockholders' Equity T Account Posting Form for 2022230 Summer Online Project Assets Continued... \begin{tabular}{|c|c|l|c|c|c|c|c|c|c|c|c|} \hline \hline \multicolumn{10}{|c|}{ Revenues Continued... } \\ \hline T & \multicolumn{2}{|l|}{ Interest Revenue } & T & T & \multicolumn{2}{|c|}{ Sales Allowance } & T & T & & & \\ \hline & & & & & & & & & & \\ \hline & & & & & & & & & & & \\ \hline B & & & & & & & & & & & \\ \hline EB & & & & & & & & & & & \\ \hline \end{tabular} Does Assets = Liabilities + Common Stock + Revenue Expenses? Do Total Debits - Total Credits? List of business transactions to record in a general journal Chapter 7 Long-Term Assets The company developed a patent for a new product they are developing. They incurred $5,000 in research and development costs; $200 patent filing fees; 800 in attorney fees for drawing up the patent documentation. Record the patent The company president asked you to report the financial position of the company as of 2/15/2022. You will not enter any adjusting entries for the month of February in the 2/15/2022 interim financial statements. You will need to: 1. Post all your handwritten journal entries by hand into chart of T accounts form. 2. Calculate each individual T account's ending balance on the T Account form. 3. Enter each account's ending balance into the provided excel worksheet to complete the Income Statement, the Balance Sheet, and the Statement of Stockholders' Equity financial statements as of 2/15/2022. 4. Confirm: a. Your journal entries match your postings into the T accounts b. Your T account ending balances match your postings to the financial statements c. Your financial statements balance - Green check provided in the excel sheet; Stockholders' Equity; Common Stock \& Retained Earnings balances (that auto posts to the Balance Shee)t balances Assets = Liabilities + Stockholders' Equity T Account Posting Form for 2022230 Summer Online Project Assets Continued... \begin{tabular}{|c|c|l|c|c|c|c|c|c|c|c|c|} \hline \hline \multicolumn{10}{|c|}{ Revenues Continued... } \\ \hline T & \multicolumn{2}{|l|}{ Interest Revenue } & T & T & \multicolumn{2}{|c|}{ Sales Allowance } & T & T & & & \\ \hline & & & & & & & & & & \\ \hline & & & & & & & & & & & \\ \hline B & & & & & & & & & & & \\ \hline EB & & & & & & & & & & & \\ \hline \end{tabular} Does Assets = Liabilities + Common Stock + Revenue Expenses? Do Total Debits - Total Credits