Shark Bait, a charter deep sea fishing company, began business on 1/1/2017. A summary of its business transactions are as follows.

1. 1/1/17: Shark and Bait each invest $64,000 ($128,000 total) and received 7,000 total shares of $5 par common stock.

2. On 3/1/17, the company purchased a large fishing boat for $24,000 of which had a down payment of $8,000 and the rest of borrowed from First Hawaiian Bank. The Note Payables principle has a 6% annual interest rate due every 6-months while the principle is due at maturity date in 4 years. The item is depreciated using the straight-line method and has a useful life of 9 years. HINT: Make sure to book ALL regular journal entries for 2017 related to this entry.

3. Liability insurance was purchased on 4/1/2017. The 12 month policy cost $4,000 and was paid in full.

4. Shark Bait purchased $9,600 of office supplies and lures from Huge Minnows Company on 4/4/17 on account.

5. On 5/1/17, Shark Bait received $14,000 cash for a tour that would take place on 2/4/18.

6. Shark Bait provided fishing tours and received $56,000 from customers on 5/10/17.

7. Shark Bait paid half of what it owes to Huge Minnows Company on 9/1/17.

8. On 11/2/17, Shark Bait received $500 cash for the sale of some unused lures that were bought on 4/4/17 for $900.

9. Operating expenses incurred and paid as of 12/31/17 which consists of: Utilities: $3,400 Boat Gas: $12,000 Salaries: $4,500

Complete the following items in EXCEL:

I will need help in all three below. Thanks, your all awesome!

1. Prepare Journal Entries in the General Journal

2. Post the journal entries to the General Ledger

3. Prepare Unadjusted Trial Balance as of 12/31/17. Make sure your Debits and Credits are Equal!!