Accounting 101 project This project will be completed in two parts. All answers should be submitted in the Excel template attached to this module. Part 1 contains an opening trial balance, list of business transactions, journaling all transactions into the general journal (including the adjusting entries), and updating each account in the T-Accts (general ledger). Upon submission, your instructor will indicate which journal entries and/or T-Acct entries are incorrect. Part 2 will have you correct any mistakes and then complete the project. The remaining parts of the project include preparing the adjusted trial balance, income statement, statement of retained earnings, balance sheet, closing entries, and post-closing trial balance. December business transactions Dec. 1st - Collected $623 from Franklin from a previous engagement in Oct. Dec. 2nd-Paid $1,590 on Gusto's Inc. invoice from a previously recorded transaction with check #1301. Dec 3rd - Paid December rent of $2,250 with check #1302. Dec 4th-Completed additional work for Washington, sent invoice #Y77P for $1,523 due in 1 month. Dec. 5th - Paid employee from work previously expensed in Nov. with payment due Dec. 5th using check #1303. Dec. 8th - Purchased land on a note for $23,945 to be used for future construction of a new office building. Land and Notes payable will have account numbers of 150 and 240, respectively. Dec. 9th - Paid $1,450 to cover all utilities for the month of Dec using check #1304. Dec. 10th - Completed $630 worth of work for a repeat customer who pays cash immediately upon completion. Dec. 11th - Collected $874 from Washington from a previous engagement in Nov. Dec. 12th - Our employee earned two weeks of pay amounting to $1,694, to be paid Dec. 23rd. *employee took vacation from Dec. 15th-Dec. 31st. No pay will accrue*