James Periwinkle is a photographer who has started a new photography business. On December 1, 2018, James decided to incorporate under the name Nittany Photography. James has hired you to provide accounting services for the company. Read the instructions at the top of each tab. Prepare the required journal entries for the month of December, the necessary adjusting entries and closing entries as of December 31, and a complete set of financial statements, to include all proper labels. Show less Requirement General Journal General Ledger Trial Balance Income St St of Ret Earnings Balance Sheet Requirement: General Journal tab: James Periwinkle is a photographer who has started a new photography business. On December 1, 2018, James decided to incorporate under the name Nittany Photography. James has hired you to provide accounting services for the company. Transactions 1-11: Prepare journal entries to record transactions for the first month in business. Transactions 12-15: Prepare the required adjusting entries. Transactions 16-19: Prepare the necessary closing entries. General Ledger tab: Entries are posted automatically to the general ledger. Abnormal balances are indicated in brackets. Review the general ledger accounts for normal balances. Trial balance tab: Use the dropdown button to review the unadjusted, adjusted, or post-closing trial balance. Review for normal ending balances. Income statement tab: Select the financial statement elements and accounts properly included on the income statement. The balances automatically populate from the trial balance selected. Statement of retained earnings tab: Select the proper label for each value appearing on the statement of retained earnings. Make sure the ending balance agrees with the general ledger balance. Balance sheet tab: Select the financial statement elements and accounts properly included on the balance sheet. The balances automatically populate from the trial balance selected