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 Land Notes Payable Depreciation Expense

Accounts Receivable Accumulated Depreciation Common Stock Salaries Expense

Supplies Accounts Payable Retained Earnings Supplies Expense

Prepaid Insurance Deferred Revenue Dividends Rent Expense

Equipment Salaries Payable Service Revenue Insurance Expense

Dec $1$: Issued common stock for $$7,500$ cash.

Dec $1$: Paid $$840$ in advance for a one$-$year insurance policy.

Dec $1$: Purchased equipment for $$3,600$ cash.

Dec $5$: Purchased supplies for $$600$ on account from XYZ Company.

Dec $15$: Provided services to customers for $$6,000$ cash.

Dec $16$: Provided services to customer ABC Inc. on account for $$3,400.$

Dec $17$:

Received cash of $$1,100$ in advance from customers for services to be provided in January.

Dec $22$: Paid $$220$ to XYZ company for the Dec $5$ purchase on account.

Dec $23$: Received $$1,800$ cash from customer ABC Inc., on account related to the Dec $16$ transaction.

Dec $25$: Paid $$650$ rent for the current month.

Dec $28$: Paid salaries to employees $$5,040$ for work performed from Dec $1$ to Dec $28.$

Dec $29$: Declared and paid cash dividends of $$350$ to stockholders.

Dec $30$: Purchased land by signing a long$-$term note for $$8,000.$

Step $2$: Post all of the transactions from the "General Journal" tab to the T$-$accounts under the $"$T$-$Accounts$/$General Ledger" tab in the excel template file "Accounting Cycle Excel Template.xlsx$".$ Assume there are no beginning balances in any of the accounts.

Step $3$: Compute the unadjusted balance for each T$-$account after all of the December entries have been posted.

Step $4$: Prepare the unadjusted trial balance on the "Unadjusted Trial Balance" tab.

$1-$ Provide the total of the credit column from the Unadjusted Trial Balance

$30320$

Step $5$: Record the December adjusting entries on the "General Journal" tab.

Dec $31$: One month insurance has been used.

Dec $31$: Supplies remaining at the end of the month total $$90.$

Dec $31$: The estimated depreciation on equipment is $$60.$

Dec $31$: Salaries incurred from December $29$ to December $31$ but not yet paid or recorded total $$540.$

Step $6$: Post all of the adjusting entries to the T$-$accounts under the $"$T$-$Accounts$/$General Ledger" tab. Compute the adjusted balance for each T$-$account after all of the adjusting entries have been posted.

Step $7$: Prepare the adjusted trial balance under the "Adjusted Trial Balance" tab as of December $31$ in the excel template file "Accounting Cycle Excel Template.xlsx$".$

Check point $1$: Adjusted trial balance total debit$/$credit $=$ $$26,980$