Specific instructions to be followed carefully: Requirements (to be completed sequentially): All work should be done in Excel. The attached Excel file has three tabs. A. Start with the journal papers tab, record the May transactions that occurred they are listed below in B. Each transaction does require an entry. Refer to the pages of t-accounts for a list of the company's accounts. B. The following transactions describe business activity for Tommy's Boat & Tackle during May of 2021: May 1: The company generated $35,000 from the sale of its common stock. May 4: $9,800 of equipment was purchased with a $800 cash down payment. The balance should be paid within the next 90 days. May 6: Tommy, on behalf of the company, signed a 5-year note, borrowing $24,750 from the local bank. May 7: Tommy's crew completed a fishing boat customization job for the Smiths; a bill for $24,000 was sent to the customer. May 9: The company paid its workers May wages of $5,615. May 11: Tommy's Boat & Tackle purchased $15,250 of supplies on account. May 14: One of Tommy's employees completed $15,400 of repairs on fishing gear and received payment immediately. May 16: The company paid half of the amount owed on the equipment purchased on May 4. Specific instructions to be followed carefully: Requirements (to be completed sequentially): All work should be done in Excel. The attached Excel file has three tabs. A. Start with the journal papers tab, record the May transactions that occurred they are listed below in B. Each transaction does require an entry. Refer to the pages of t-accounts for a list of the company's accounts. B. The following transactions describe business activity for Tommy's Boat & Tackle during May of 2021: May 1: The company generated $35,000 from the sale of its common stock. May 4: $9,800 of equipment was purchased with a $800 cash down payment. The balance should be paid within the next 90 days. May 6: Tommy, on behalf of the company, signed a 5-year note, borrowing $24,750 from the local bank. May 7: Tommy's crew completed a fishing boat customization job for the Smiths; a bill for $24,000 was sent to the customer. May 9: The company paid its workers May wages of $5,615. May 11: Tommy's Boat & Tackle purchased $15,250 of supplies on account. May 14: One of Tommy's employees completed $15,400 of repairs on fishing gear and received payment immediately. May 16: The company paid half of the amount owed on the equipment purchased on May 4