Step $1-$ record the journal entries for the transactions listed above $(1$ through $8)$ see column N for where to put in the account name and #$\text{'}$s$.$ Step $2-$ create T accounts and post the journal entries from Step $1$ above to the T accounts $($rembember assets generally have a debit balance, liablities and equity a credt and expesnes a debit and revenue a credit$).$ Step $3-$ Create an income statement and balance sheet. These should all be done in Excel