I know this one is a little long, I posted the Chart of Accounts at the bottom.

Thanks in advance!

Term Project Part 1 Instructions Data File Instructions: Follow the steps below to complete part 1 of your project. Step 1: Complete the following in the "General Journal" tab at the bottom of the Janie's Cupcakes, Inc. Student Workbook). The following events occur in July 2014 July 1 -You take $10,000 from your personal savings account and buy common stock in Janie's Cupcakes, Inc July 1-Paid $4000 on a lease for bakery space. The lease is for 1 year, and requires first and last month's rent up front. Lease period is effective July 1st 2016 through June 30th, 2017 July 1 You have baking equipment, including an oven and mixer, which you have been using for your home-based business for one year and will now start using in the bakery. The current book value of the equipment is $8,000, and you transfer the equipment into the business in exchange for additional common stock. The equipment has a 5-year useful life, and an original cost of $10,000 July 2-Your parents lend the company $10,000 cash, in exchange for a ten-year, 3 note payable. Interest is payable quarterly, and the principal is due at maturity. July 4-Purchased $5000 in baking supplies from vendor, on account July 10-Paid $325 to the City Licensing office for a business license. July 14-Went to Costco and paid $750 for Miscellaneous Supplies, such as paper products office supplies, etc. July 15-Hire counter staff at $12 per hour. Pay periods are the 1st through the 15th and 16th through the end of the month with paydays being 7-days after the end of each pay period July 30- Received utility bill for July in amount of $185. Payment is due on August 25 July 31- Accrue 40 hours of wages earned by your employee for period of July 16th through 31 Total July bakery sales were $6,500. Of this amount, $1500 was on account for a local restaurant. Step 2 Complete the following transactions in the August section of the General Journal tab in your workbook August 1-Pay rent on bakery space $2000 August 1-Buy a 12-month insurance policy for $600. Payment in full was required at the policy's inception. Policy effective dates August 1,2016 through July 31 2017 August 3-Paid $250 for a website and social media advertising. August 7-paid employee for period ending 7/31