Fast Deliveries, Inc. (FDI) was organized in December last year and had limited activity last yea The resulting balance sheet at the beginning of the current year is provided below: Additional Information: Two employees have been hired, at a monthly salary of $2,200 each, starting on January 1. The following transactions occurred during January of the current year. PROJECT #1 - PART A 1 Paid 12 months insurance starting January 1,$5,700. 2 Paid 12 months rent starting January 1,$4,200. Additional Information: Two employees have been hired, at a monthly salary of $2,200 each, starting on January 1. The following transactions occurred during January of the current year. Jan PROJECT #1 - PART A 1 Paid 12 months insurance starting January 1,$5,700. 2. Paid 12 months rent starting January 1,$4,200. 3 FDI borrows $30,000 cash from First State Bank at 6% annual interest; this note is payable in two years. 4 A delivery van is purchased using cash. The total cost was $24,000. 5 Stockholders contribute $6,000 of additional cash to FDI for its common stock. 6 Additional supplies costing $1,000 are purchased on account and received. 7 Accounts receivable of $600 is collected from December sales. 8 Accounts payable of $400 is paid from December purchases. 9 Performed services for customers on account, sending invoices totaling $10,400. 10 Performed services for customers totaling $7,600 who paid in cash. 16 Salaries totaling $2,200 were recorded and paid for the first half of the month. 20 FDl receive $3,500 cash from a customer for an advance order for services to be provided later in January and February. 25 Accounts receivable of $4,500 is collected from customer on account from January 9. PROCESS (steps to follow): 1 Record journal entries for the transactions dated January 1-25 of the current year on the enclosed journal entry form (separate tab). 2 Create a T-account for every account used to date by FDi on the Taccount tab. Correctly post any beginning balances, Post each of the entries to the correct Taccounts on the enclosed Taccount form (separate tab) using linking/referencing functionality. 3 Using the addition/sum and subtract functions in Excel/Sheets, calculate the correct subtotal balance for each Taccount on the enclosed form. ** A suggestion to check the work is to create an unadjusted trial balance using the subtotals*.* Leave space to add an ADJUSTED total in Part B. An example of the process can be found in the demonstration cases end of chapter 2,3 and 4 . Be sure to reference the Learning Aesources (Google shides for chapter 2 -4). Use of the basic reference/linking function and addition/sum/subtraction functions in Excel/5heets must be included to the fullest extent possible to earn full project points. Referencing 'answer' cells back to 'input' cells creates a functioning, effective worksheet. Be sure to check the Info \& Directions tab for additional information. 2 Create a Taccount for every account used to date by FDI on the T-account tab. Correctly post any beginning balances. Post each of the entries to the correct T-accounts on the enclosed T-account form (separate tab) using linking/referencing functionality. 3 Using the addition/sum and subtract functions in Excel/sheets, calculate the correct subtotal balance for each T-account on the enclosed form. Use of the basic reference/linking function and addition/sum/subtraction function in Excel/sheets must be included to the fullest extent possible to earn full project points. Referencing 'answer' cells back to 'input' cells creates a functioning, effective worksheet. 5 Post each of the adjusting entries to the same T-accounts on the enclosed T-account form. This posting should be below the previous totals submitted for Part A. Using the addition/sum and subtract functions in Excel/sheets, calculate the correct final balance for each T-account on the correct side. The T-account should have the unadjusted total, the adjusting journal entries, then a new separate final total. * A suggestion to check the work is to create an adjusted trial balance using the 6 totals** Use the reference or linking function in Excel/Sheets to link the financial statements accounts and amounts to the T-accounts. Referencing 'answer' cells back to 'input' cells creates a functioning, effective worksheet. Making these connections allows the worksheet to be used for analyzing potential changes in the results. Revenue