please fulfil all reqirements (1-8). im struggling in my online accounting class and a good example would be a huge help! thank you!

TEXT : Requirement 1. Record each transaction in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.)

Dec.

1:

Milton

Delivery Service began operations by receiving

$7,000

cash and a truck with a fair value of

$18,000

from

Richard

Milton.

The business issued

Milton

shares of common stock in exchange for this contribution.

Miton Delivery Service completed the following transactions during December 2024: (Click the icon to view the transactions.) Read the tequirements. Requirement 1. Record each transaction in the joumal. Explanations are not required. (Record debits first, then credits, Exclude explanations from joumal entries.) Dec. 1: Mitton Delivery Service began operations by receiving $7,000 cash and a truck with a fair value of $18,000 from Richard Mitton. The business issued Milicn shares of common stock in exchange for this contribution. Requirements 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2024. 4. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. Requirements 2. Post the transactions in the T-accounts. 3. Prepare an unadjusted trial balance as of December 31, 2024. 4. Journalize the adjusting entries using the following adjustment data and also by reviewing the journal entries prepared in Requirement 1. Post adjusting entries to the T-accounts. Adjustment data: a. Accrued Salaries Expense, $1,100. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $9,000. c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $500. e. Unearned Revenue earned during the month, $800. f. Accrued Service Revenue, $1,050. 5. Prepare an adjusted trial balance as of December 31, 2024 . 6. Prepare Milton Delivery Service's income statement and statement of retained earnings for the month ended December 31, 2024, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amount-that is, the largest expense first, the smallest expense last. 7. Journalize the closing entries and post to the T-accounts. 8. Prepare a post-closing trial balance as of December 31, 2024. More info More info