Question:

1. ESTION 1Required:#1.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-DecBegan business by depositing$10000in a bank account in the name of the company in exchange for1000 shares of$10per share common stock.

1-DecPaid the rent for the current month, $900 .

1-DecPaid the premium on a one-year insurance policy,$480

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1-DecPurchased Equipment for $4800 cash.5-DecPurchased office supplies from XYZ Company on account, $300 .

15-DecProvided services to customers for $7000cash.

16-DecProvided service to customers ABC Inc. on account, $4900 .

21-DecReceived$2300 cash from ABC Inc., customer on account.

23-DecPaid$170 to XYZ company for supplies purchased on account on December 5 .

28-DecPaid wages for the period December 1 through December 28,$4200 .

30-DecDeclared and paid dividend to stockholders $200 .

#3.Compute the balance for each T-account after all of the entries have been posted. These are the unadjusted balance as of December 31.

#4.Prepare the unadjusted trial balance under the "Unadjusted Trial Balance" tabin the excel template file "Accounting Cycle Excel Template.xlsx" .Provide the total of the credit column from the Unadjusted Trial Balance