Scenario You were recently hired as an entry-level bookkeeper for a service business that recently opened. This is the first month in operation for the business and your first task is to record business transactions for their first month using the source documents and transaction data the owner will provide to you. Because this is a small business that does not use computerized accounting, you will apply the accounting cycle in Excel to record transactions and generate financial reporting results for the owner. Assets Liabilities Equity Revenue Expenses Cash Notes Payable Owner's Capital Service Revenue Rent Expense $- $- $- $- $- $- $- $- $- $- $- $- $- $- $- Accounts Rec. Accounts Payable Owner Draws Business License Expense $- $- $- $- $- $- $- $- $- $- $- $- $- $- Prepaid Rent Wages Payable Telephone Expense Posting to the ledger/t accounts Don't overthink it! You are just posting each debit and credit from the journal entries to the account you identified in the entry. These accounts are set to calculate your balances for you. Please be careful not to delete the running totals as those will calculate the ending balance. The ending balance will transfer to the Trial Balance sheet. If you have posted all entries and your trial balance is not in balance (total debits = total credits), $- $- $- $- this means that there is an error. $- $- $- $- $- Prepaid Insurance Repairs & Maint. $- $- $- $- $- $- Office Supplies Advertising Expense $- $- $- $- $- $- Vehicle Wages Expense $- $- $- $- $- $- Accumulated Depreciation Depreciation Expense $- $- $- $- $- $