.Prepare journal entries to record the December transactions in the General Journal Tab in the excel template file "Accounting Cycle Excel Template.xlsx". Use the following accounts as appropriate: Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation, Accounts Payable, Wages Payable, Common Stock, Retained Earnings, Dividends, Service Revenue, Depreciation Expense, Wages Expense, Supplies Expense, Rent Expense, and Insurance Expense.

1-Dec Began business by depositing $8000 in a bank account in the name of the company in exchange for 800 shares of $10 per share common stock.

1-Dec Paid the rent for the current month, $700 .

1-Dec Paid the premium on a one-year insurance policy, $960 .

1-Dec Purchased Equipment for $4200 cash.

5-Dec Purchased office supplies from XYZ Company on account, $300