Completing an Accounting Cycle for a Service Business At Dec. 1, Donna, Inc. started the operation. Donna, Inc. is a service business that assists individuals and small companies in accounting for their businesses. Assuming Donna, Incis accounting period is for a month. The business transactions shown below were Donna, Inc, engaged in during Dec, 2021. Chart of Accounts for Donna, Inc. a) Dec. 1: received E70,000 cash from investment by issuing 10,000 shares to investors: b) Dee. 2: paid a rent of 1,200 for its office space. The payment covers the following six months, starting from Dec. 1 ; c) Dec, 3: Baldwin Investment Bankers paid Donna, Inc, Cio,000 for two-month service starting from Dec, 1; d) Dee 4: purchased an office equipment - a Dell computer on account, 3.600. The equipment can be used for five years; e) Dec. 5: paid monthly salaries to an administration assistant for her work in November A . ooo that was not acerued on November 30 : f) Dec, 12: issued a 3-year, Croo, oon bond with a stated rate of 24%, compounded monthly, when the monthily market rate was 2.5%; 8) Dee, 16: borrowed 10,000 from a lender and signed a note with an interest rate of 12%, due in three monthis. h) Dec. 20: the company's baard of directors declared a $50.50 per share dividend on Share CapitalOrdinary. D) Dec. 21: performed consulting service for a client on aceount, cro.7oo: j) Dec. 31: dividend payments are prepared and sent to shareholders who owned stocks on the date of record. Requirements: 1. Journalize the above business transactions and post to the ledger nsing T-accounts. 2. Prepare an unadjusted trial balance. 3. Adjust for the following scenarios at the end of the accounting period. (1) Accrue service revenue earned for December: (2) Accrue salaries for the administration assistant's work. (3) Acerue interests for bonds and amortize for the difference amount between selling price and face amount of the bonds using the effective-interest method. (4) Adjust the interest for the note issued at Dec. 16. (Assuming there are 360 days per year) (5) Office equipment depreciated using the straight-line method and the residual value is 6600 after the entire depreciation process. 4. Prepare an adjusted trial balance. 5. Prepare fourmain Financial Statements 6. Close the accounting period. 7. Prepare a post-closing trial balance. 8. Open the next accounting period. Completing an Accounting Cycle for a Service Business At Dec. 1, Donna, Inc. started the operation. Donna, Inc. is a service business that assists individuals and small companies in accounting for their businesses. Assuming Donna, Incis accounting period is for a month. The business transactions shown below were Donna, Inc, engaged in during Dec, 2021. Chart of Accounts for Donna, Inc. a) Dec. 1: received E70,000 cash from investment by issuing 10,000 shares to investors: b) Dee. 2: paid a rent of 1,200 for its office space. The payment covers the following six months, starting from Dec. 1 ; c) Dec, 3: Baldwin Investment Bankers paid Donna, Inc, Cio,000 for two-month service starting from Dec, 1; d) Dee 4: purchased an office equipment - a Dell computer on account, 3.600. The equipment can be used for five years; e) Dec. 5: paid monthly salaries to an administration assistant for her work in November A . ooo that was not acerued on November 30 : f) Dec, 12: issued a 3-year, Croo, oon bond with a stated rate of 24%, compounded monthly, when the monthily market rate was 2.5%; 8) Dee, 16: borrowed 10,000 from a lender and signed a note with an interest rate of 12%, due in three monthis. h) Dec. 20: the company's baard of directors declared a $50.50 per share dividend on Share CapitalOrdinary. D) Dec. 21: performed consulting service for a client on aceount, cro.7oo: j) Dec. 31: dividend payments are prepared and sent to shareholders who owned stocks on the date of record. Requirements: 1. Journalize the above business transactions and post to the ledger nsing T-accounts. 2. Prepare an unadjusted trial balance. 3. Adjust for the following scenarios at the end of the accounting period. (1) Accrue service revenue earned for December: (2) Accrue salaries for the administration assistant's work. (3) Acerue interests for bonds and amortize for the difference amount between selling price and face amount of the bonds using the effective-interest method. (4) Adjust the interest for the note issued at Dec. 16. (Assuming there are 360 days per year) (5) Office equipment depreciated using the straight-line method and the residual value is 6600 after the entire depreciation process. 4. Prepare an adjusted trial balance. 5. Prepare fourmain Financial Statements 6. Close the accounting period. 7. Prepare a post-closing trial balance. 8. Open the next accounting period