create a

1. chart of accounts
2. general ledger
3. general journal
4. adjusted trial balance
5. financial statements.

The complete occounting cycle 104.05 On January 1, 20X7, Jacqueline Fernandez formed a corporation to purchase wheat harvesting equipment and provide contract support services to farmers throughout the Midwest. Information about the first year of operation follows: Jan. 1 Investors provided \$2,500,000 of cash in exchange for stock of Fernandez Corporation Jan. 1 Purchased combines and trucks in exchange for $1,000,000 cash and a $3,000,000 note payable Feb. 7 Purchased $40,000 of supplies on account that will be needed during the upcoming harvest Mar. 3 Paid wages of $65,400 Apr. 1 Billed customers for services in the amount of $230,000 Apr. 11 Paid $30,000 toward the purchase of February 7 May 1 Purchased a $24,000 insurance policy, recorded as prepaid insurance June 6 Collected $210,000 on accounts receivable June 9 Paid wages of $130,600 June 15 Paid $30,200 for fuel costs June 20 Paid $12,500 for lodging costs incurred by crew June 30 Paid $120,000 of interest and $80,000 to reduce the balance of the note payable Aug. 1 Billed customers for services provided in the amount of $812,000 Sept. 3 Collected $715,000 on accounts receivable Sept. 16 Purchased $25,000 of supplies on account Sept. 25 Paid $61,200 for fuel costs Oct. 20 Paid $8,100 for lodging costs incurred by crew Nov. 3 Paid wages of $125,900 Dec. 15 Collected $100,000 as deposits from customers who contracted for 208 harvesting services Dec 31 Declared and paid a $25,000 dividend to shareholders Fernandez Corporation uses the following accounts