Juan Orchid is a photographer who has started a new photography business. On December 1, 2018, Juan decided to incorporate under the name Mont Alto Campus Photography. Juan 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 A Requirement General Journal General Ledger Trial Balance Income St St of Ret Earnings Balance Sheet Requirement: General Journal tab: Juan Orchid is a photographer who has started a new photography business. On December 1, 2018, Juan decided to incorporate under the name Mont Alto Campus Photography. Juan 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. General Journal tab: Transactions 1-11: Prepare journal entries to record transactions for the first month in business. Transactions 12-15: Prepare the required adjusting entries (use information from the unadjusted trial balance to calculate the required adjustments). Transactions 16-19: Prepare the necessary closing entries. Show less A View transaction list Journal entry worksheet On December 1, Mont Alto Campus Photography issued 10,000 shares of common stock to Juan Orchid in exchange for $34,000 cash. Note: Enter debits before credits. Date Account Title Debit Credit Dec 01 Record entry Clear entry View general iournal Journal entry worksheet 3 4 On December 12, Mont Alto Campus Photography purchased $1,680 of photography supplies on account. Note: Enter debits before credits. Date Account Title Debit Credit Dec 12 Record entry Clear entry View general journal Journal entry worksheet Prepare the entry to close the expense account(s) to Income summary. Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet Prepare the entry to close income summary. Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet