Mark the steps as checked when you complete them.

Open the start file EX$2016-$Accounts$-$Project$-2.$ The file will be renamed automatically to include your name. Change the project file name if directed to do so by your instructor, and save it$.$

If the workbook opens in Protected View, click the Enable Editing button in the Message Bar at the top of the workbook so you can modify it$.$

Using a cell references, populate the T$-$accounts with their beginning balances from the Opening Trial Balance.

On the Gen Journal worksheet, record the following external transactions a$.$ through k$.$ Use column B for the debits and column C for the credits. Record the debits first and the credits second. The labels for the first few transactions have been entered for you. Some transactions may require more than two accounts to record correctly.

Provide health services for cash, $$18,000,$ and on account, $$62,000.$

Collect on accounts receivable, $$45,000.$

Issue shares of common stock in exchange for $$12,000$ cash.

Pay salaries for the year through December $23,2018,$ $$36,000.$

Pay for utilities expense, $$13,000,$ of which $$5,500$ represents costs for $2017.$

Receive cash in advance from customers, $$7,000.$

April $1,2018,$ the company purchases On insurance for $$15,000$ for a one$-$year policy to cover possible injury to workers.

On August $1,2018,$ David's borrows $$40,000$ from a local bank and signs a note. The note requires interest to be paid annually on August $31$ at $9\%.$ The principal is due in four years.

Purchased $$1,750$ of Supplies on account.

Paid $$1,250$ on account for the Supplies purchased in $($i$).$

Pay $$3,000$ cash dividends to stockholders.

On the Gen Journal worksheet, record the following adjusting entries a$.$ through h$.$ Use column B for the debits and column C for the credits. Record the debits first and the credits second.

Depreciation for the year on the machinery is $$2,900.$

Medical supplies remaining on hand at the end of the year equal $$1,200.$

Of the $$7,000$ paid in advance by customers, $$4,000$ of the work has been completed by the end of the year.

Employees' salaries are paid every two weeks. The last pay period ended on December $23.$ Salaries earned from December $24$ through December $31,2018,$ are $$4,200.$

Record the appropriate entry for item g$.$ in the summary of transactions above.

On December $30,2018,$ Mike's receives a utility bill of $$1,900$ for the month. The bill will not be paid until early January $2019,$ and no entry was recorded when the bill was received.

Advanced Health determines that services for $$1,800$ had been provided and the client had not paid at the time the services were performed. The transaction was not recorded during the year.

Record the required adjusting entry related to the external journal entry $($h$).$

Once all the entries have been prepared, use the cell reference to post all the entries to the appropriate T$-$accounts on the Gen Ledger worksheet.

Once all the journal entries have been posted, total each T$-$account. In the formulas, use cell references to include all rows from the debit and credit columns, not just the rows in which you have values. The formulas for the T$-$account totals should be consistent. To help you determine if you have the correct transactions the following balances are provided:

Cash: $$58,250$

Service Revenue: $$85,800$

After totaling each of the T$-$accounts prepare an adjusted trial balance in the space provided on the Gen Ledger worksheet. The format for the trial balance has been provided for you.

Prepare the trial balance in the proper account order.

Use the cell reference to post all the entries to the Debits and Credits columns.

Use a formula to total the debit and the credit column.

IMPORTANT:

Verify that cell references are used for all items in the T$-$accounts on the Gen Ledger worksheet.

Verify that cell references are used for all values listed in the Adjusted Trial Balance.