11 Task 2: Sophia provides you with a list of business transactions that occurred during the year. You must HHEC use these transactions to demonstrate the first four steps in the accounting cycle analyzing each transaction, using double entry accounting to record these transactions in the general Journal, and posting HAPPY HOME them to their respective accounts. Finally you prepare a trial balance, the fourth step in the accounting cycle, which ensures that the first three steps in the accounting cycle have been completed currenty. 1 2 3 4 A The Sisters Invest $15,000 in cash in Happy Home Environmental Cleaning (HHEC) SB HHEC buys a building for $10,000 in cash 6 C. HHEC buys office equipment for $1,800 for cash. 7 D. HHEC buys cleaning supplies for $2,800, agreeing to pay the upplier in 30 days. 8 EHHEC earns cleaning revenues of $16,460 in cash. 9 FHHEC earns cleaning revenues of $2,200 on account 10 G. HHEc paid the following expenses in cash: Wages $ 4,275 12 Utilities $ 985 13 Miscellaneous S 195 14 H. HHEC pays $950 in cash to creditors on account 15 LHHEC purchases a two year insurance policy for $2.400 in cash 16 J. At the end of the year, the cost of cleaning supplies on hand is $2040 17 K The sisters withdrew $2,000 in cash 18 19 Analyze each transaction A-K and determine whether it is reportable. If yes, create a journal entry to book to respective accounts. 20 ANSWER 21 22 JOURNAL ENTRIES 23 24 25 26 27 28 29 30 31 Challenge 1-Task 2 +