Part One, Two and Three Instructions Record the January 2020 transactions in the general journal (last section of this practice set) using the following events. Skip a line between each entry and number the entries to match the number of the transaction. In the general journal record the transaction number, the date, Dr/Cr and the account numbers along with the dollar amounts. After all journal entries are entered into the practice set, enter the adjusting journal entries. Next, create a T-Account for each account that is used in the Chart of Accounts and record the transactions and end with an ending balance. All ending balances should be on the normal balance side even if the account has a zero balance. If there is a number that is uneven round to the nearest cent. You will need the ending balance in the cash account for the bank reconciliation. All instructions for Blackboard start on page 8. Transactions Date Deposit No. / Check No, Description 1/02/20 2 1/02/20 Deposit #1 Samantha Sneed met with her lawyer and CPA for advice on starting the business. They decided that Ms. Sneed would organize the business as a corporation. The lawyer told Ms. Sneed to register the company name, Sweaty Bands, Inc., with the County of El Paso. In addition, Ms. Sneed will get an employer identification number (EIN) from the Internal Revenue Service and get a sales tax permit from the state of Texas. The lawyer agreed to prepare the Articles of Incorporation to be filed with the Secretary of State of Texas. The CPA has agreed to help Ms. Sneed set up her accounting system. Ms. Sneed opened a business checking account at Wells Fargo Bank by depositing the personal check she gave her company for $25,000. The corporation issued her a stock certificate for 50,000 shares of common stock Ms. Sneed signed a one-year rental agreement with Rusty Realtors for shop space. She was required to pay $3,200 for rent for the months of January 1, 2020 - April 30, 2020. Arranged for a general business liability insurance policy and paid $1,800 to State Penn Insurance. This premium is for six months of coverage. Purchased store equipment for a cost of $10,000 from Office and Store Supply for use in the business. Ms. Sneed signed a one year, 6% note payable for the cost of the office and store equipment. The store and office equipment have an estimated useful life of 4 years 3. 1/03/20 Ck #1001 4. 1/03/20 Ck #1002 5. 1/03/20