ACCT 2021 CHAPTER 3 - EXERCISE Instructions a) Use the T-Accounts to record the transactions below for Dixie Incorporated in its first year of business. HINT: Now that we are recording entries on the account level. The Retained Earnings account should not be Version 5.1 impacted as part of these entries. The Retained Earnings balance will be impacted during the closing process b) As you complete each T-account entry, prepare the Journal Entries using correct journal format. c) After completing your entries, calculate an account balance for each account and prepare a Trial Balance. d) Return to the T-accounts to record the Closing Entries for the company and then preparea Post-Closing Trial Balance (form included later in exercise) e) Use the post-closing balances to prepare a set of Financial Statements for the company