Instructions 1. This is an individual assignment. 2. Complete this exercise using a MS Excel spreadsheet. 3. Submit the assignment on the assigned Blackboard link. 4. The due date is 25th February 2021 at 5 PM. 5. Marks will be awarded for accurate, neat and well- presented work in line with generally accepted accounting principles (GAAP). PART A 15% Alamein opened Alamein Cleaning Services (ACS) on July 1, 2017. During July, the following transactions took place: July 1 Alamein invested $20,000 in the business. July 1 ACS purchased a used truck for $12,000, paying $4,000 cash, with the balance on account. The truck is expected to be used for 5 years and after which it will disposed off for $2,000. July 3 ACS purchased cleaning supplies for $2,100 on account. July 5 ACS paid $1,800 cash on 1-year insurance policy effective July 1". July 12 ACS billed customers $4,500 for cleaning services. July 18 ACS paid $1,500 cash on amount owed on truck and $1,400 on amount owed on cleaning supplies. July 20 ACS paid $2,800 cash for employee salaries. July 21 ACS collected $3,400 cash from customers billed on July 12. July 25 ACS billed customers $6,000 for cleaning services. July 31 ACS paid $350 for the monthly gasoline bill for the truck. July 31 ACS withdrew $5,600 cash for personal use. Required 1. Prepare journal entries for the above transactions. 2. Post the journal entries into the ledger. 3. Extract a trial balance as at July 31- 2017. PART B [5% ACS discovered the following data on July 31" after preparing the trial balance in Part A above: 1. Unbilled and uncollected revenue for services performed at July 31" were $2,700. 2. No provision has been made for depreciation. 3. No adjustment for insurance has been made. 4. Only $600 of cleaning supplies are on hand. 5. Employee salaries of $1,000 have not been paid. Required: 1. Prepare journal entries for the above adjustments and post them to the ledger. 2. Prepare a worksheet and make the above adjustments in the worksheet. 3. Prepare the following financial statements: a. The income statement for the period ended July 31* 2017. b. Statement of changes in owner's equity for the period ended July 31" 2017. c. Statement of cash flows for the period ended July 31* 2017. d. Statement of financial position as at July 31* 2017