please help with #4.

use new transactions thats highlighted instead of whats on tranactions list

BEFORE YOU START THE CASE STUDY, complete the following 3 STEPS: 1. Create T Accounts for each account in the Chart of Accounts for case study 3. 2. Enter the following opening balances in the TAccounts you created AND the Ledger Accounts: Cash - $50,000 Common Stock - $25,000 Retained Earnings - $25,000 3. CHANGE THE WORDING FOR THE 5/20 TRANSACTION TO READ AS FOLLOWS: "Revenue from designing several pools is $15,000, received 7.000 cash, the remainder on account" PLEASE NOTE: If you do not enter these opening balances your trial balances and some of your financial statements will be wrong! Step 1: Journalize the transactions on page 35 (May 1 - May 30) in the General Journal (pages 37 and 39) You DO NOT need a description line for each journal entry. . Remember to SKIP a row between each journal entry. DO NOT create an entry for the May 25th transaction (It does not provide enough information). . Step 2: Post each journal entry in the Taccounts you created Step 3: Post each journal entry to the General Ledger Accounts (pages 45, 47, and 49) Step 4: Prepare the Unadjusted Trial Balance (page 55) . Make sure you use the balances in the General Ledger Accounts to get the balances for the UTB For Part 1 of Case Study 3 you should upload/submit the following items: 1. Journal entries - recorded in the General Journal on page 37 2. T Accounts - make sure you enter the opening balances from the instructions above and post the journal entries from page 37 in the Taccounts 3. General Ledger Accounts - make sure you enter the opening balances from the instructions above and post the journal entries from page 37 in the ledger accounts 4. Unadjusted Trial Balance - make sure you calculate the ending totals of both columns 1) May 1st Dr. Cr. Returned Eaming 25000 25000 1200 Common Stocks 25000 25000 Cash Common Stock 25000 2) Cash 50000 25000 7000 900 1000 74100 25000 3000 3600 1000 1000 May Ist 50000 1200 Dr. Cr. Prepaid Insurance Cash 1200 Prepaid Insurance May 3rd Dr. Cr. Expense 3000 Supplies 3000 1200 2000 Expense Cash 3000 1200 3000 2000 May Sth Dr. Cr. 2000 Supplies Account Payables 2000 Account Payables 1000 2000 Office Equipment 3600 May 10th Dr. Cr. Account Receivable 8000 1000 5000 12000 3600 1000 3600 Office Equipment Cash 3600 May 17th Dr. Cr. 1000 Revenue Uneamed Revenue Account Payables Cash Dividends 1000 1000 900 15000 5000 20000 900 1000 May-20 Dr. Dr. Cr. Cash Account Receivable Revenue 7000 8000 15000 May-22 Dr. Cr. 900 Cash Unearned Revenue 900 May-24 Dr. Cr. 1000 Cash Account Receivable 1000 May-25 Dr. Cr. 5000 Account Receivable Revenue 5000 May-30 Dr. Cr. 1000 Dividends Cash 1000 3) Account: Date Before May May 1st May Ist May and May 10th May 17th May 20th Cash Ref Debit Credit Balance Instructor 50000 Sol 35000 75000 73800 3000 70800 100 1000 7000 75200 900 2410 1000 751001 1000 67200 May-24 May 30 R. Accounti Common Stocks Dale Debit Before May instructor May Ist (Credit Ralance 25000 25600 Account: Date Before May Returned Earning Ref Debit Instructor Credit Balance 25000 Account: Date May Ist Red Prepaid Insurance Debut Credit 12001 Balance 1300 Account: Dale May 3rd Expense Ref Balance Dehit Credit 3000 Account: Date May 5th Supplies Ref Debit Credit 2000 Balance 2000 Account Payables Ref Debit Crede Account: Date May 5th May 17th Falance 200 2000 1000 1000 Account: Date May 10th Office Equipment Ref Debit Credin 3600 Falance 3800 Account: Date May 20th May 24th May 25th Account Receivable Rel Debit Credit Balance 8000 000 1000 7000 5000 Revenue Ref Debut Account: Date May 2011 May 25th Credit Balance 1900 15000 5000 30000 Account: Date May 22nd Unearned Revesse Ref Debit Credit Balance Account Date May 30th Dividends [Ref Debit Credit 1000 Balance 1000 Sassafras Sis, Inc Chart of Accounts Balance Sheet Accounts Income Statement Accounts 1 Assets 4 Revenue 11 Cash Debit 41 Revenues Credit 12 Accounts Receivable Debit 13 Supplies Debit 5 Expenses 14 Prepaid Insurance Debit 51 Expenses Debit 1s Office Equipment Debit 16 Accum. Depreciation Office Eq. Credit 2 Liabilities 21 Accounts Payable Credit 22 Accruals (ie taxes payable) Credit 23 Unearned Revenue Credit 3 Stockholders' Equity 31 Common Stock Credit 32 Retained Earnings Credit 33 Dividends Debit Sassafras Sis, Inc is a pool design firm based in Oxona, Florida. Based on the following fact pattern complete the entire accounting cycle case study for May. 20xx 1 Record the following entries for the month of May in the General Journal (G) pages 31 and 2 May 1 Invested $25,000 cash in exhange for Common Stock 1 Paid cash $1,200 for 12 month insurance policy 3 Pald cash for various expenses $3,000 5 Purchased supplies 52,000 on account 10 Paid cash for office equipment $3,600 17 Paid $1,000 cash to creditor 20 Revenue from designing several pool$12,000. Received $7,000 cash, remainder on account. 22 Received 5900 cash from customer for future work 24 Received $1,000 cash from customer paying down account 25 Social media "kes exceed 5000. Marketing anticipates a sales bump of 51 per like. 30 Board of Directors declared and paid cash Dividend $1,000 EXCLUDE THE DESCRIPTION ALWAYS LEAVE A SPACE BETWEEN SEPARATE TRANSACTIONS 2. Post to General Ledger (GL) 3 Produce the Unadjusted Trial Balance 4 Record Adjusting Entries on Journal Page 3 Entry Type May 31 Supplies on hand at month and $250 Periodic Inventory expense 31 Office Equipment Depreciates staright line over 3 years Estimated Expense 31 Record insurance expense for month end Deferred Expense (You Prepaid an expense) 31 Earned $300 of Unearned Revenue Deferred Revenue (Customer Prepaid you) 31 Five hours design work on long term contract, $100 per hout Accrued Revenue 31 Record tax expense. Tax rate 40% Accrued Expense 5 Post Adjusting Entries to the General Ledger (GL) 6 Produce the Adjusted Trial Balance 7 Produce an Income Statement, Retained Earnings Statement and Balance Sheet. 8 Record on Journal Page 4 the closing of all temporary accounts directly into Retained Earnings 10 Post to General Ledger (GL) 11 Produce the Post Closing Trial Balance