The following are tips to guide you in completing the Accounting Cycle Case: Only use the accounts listed in the Chart of accounts. Do not add new accounts. You can add rows to the General Ledger in case there are not sufficient rows (e.g., Cash account). All journal entries must ultimately be posted into the General ledger. Enter transaction entries in the General Journal, except for adjusting entries and closing entries for which the instructor has created two separate tabs; therefore, enter adjusting entries in the "Adjustments" tab, and the closing entries in the "Closing tab." This is how your first J/E should look like in the General Journal. Jun 1 Rent Expense Cash To record June rent payment 630 100 1,000.00 1,000.00 The first adjusting entry is (use as a guide, notice that the posting reference (PR) is the account number): June 30, 2021 Depreciation Expense 640 $2,000.00 Accumulated Depreciation Depreciation- Equipment & Fixtures 155 $ 2,000.00 The Adjusted TB totals should be $242,594.58 (Dr & Cr) The Post Closing TB totals should be $90,073.68 (Dr & Cr) When making closing entries (closing temporary accounts), use Retained Earnings. There is no need to use Summary account; however, if you do, that is fine too. All entries (including adjusting entries and closing entries) must be entered in the General Ledger; however, pay special attention as to the flow of balances for each account as you prepare the various Trial Balances, that is, as you move from Unadjusted TB to the Post closing TB. Diner 84 is a Cash business as most diners are; therefore, you do not set up an Accounts receivable when sales are made, instead you debit the Cash account. Ignore Cost of goods sold when recording sales. You should balance to a Net Income of &1,804.10, and Total Assets of $84,073.68. Finish this assignment at least two to three days before the due date to check that your answers are sound and that they reconcile to the figures provided in this document. Work with your peers and ask the instructor for clarification, timely.