Question 1, Comp4-1 (similar to) Requirements x Mitchel Delivery Service completed the following transactions during December 2018: A (Click the icon to view the transactions.) Read the requirements 1. Record each transaction in the journal using the following chart of accounts. Explanations are not required. Cash Requirement 1. Record each transaction in the journal. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Dec. 1: Mitchel Delivery Service began operations by receiving $17,000 cash and a truck with a fair value of $16,000 from Ray Mitchel. The business issued Mitchel shares of common stock in exchange for this contribution. Retained Earnings Dividends Accounts Receivable Date Accounts Debit Credit Dec. 1 Office Supplies Prepaid Insurance Truck Accumulated DepreciationTruck Accounts Payable Salaries Payable Income Summary Service Revenue Salaries Expense Depreciation ExpenseTruck Insurance Expense Fuel Expense Rent Expense Supplies Expense Unearned Revenue Common Stock 2. Post the transactions in the T-accounts 3. Prepare an unadjusted trial balance as of December 31, 2018 4. Prepare a worksheet as of December 31, 2018 5. 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, $700. b. Depreciation was recorded on the truck using the straight-line method. Assume a useful life of 5 years and a salvage value of $7,600 c. Prepaid Insurance for the month has expired. d. Office Supplies on hand, $50. e. Unearned Revenue earned during the month, 5800 f. Accrued Service Revenue, $750. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 6. Prepare an adjusted trial balance as of December 31, 2018 7. Prepare Mitchel Delivery Service's income statement and statement of retained earnings for the month ended December 31, 2018, and the classified balance sheet on that date. On the income statement, list expenses in decreasing order by amountthat is, the largest expense first, the smallest expense last. 8. Journalize the closing entries and post to the T-accounts. 9. Prepare a post-closing trial balance as of December 31, 2018 Print Done