Zouk's financial year end is December $31$each year and you have been provided the following information and transactions for $2023$:

Jan $1.$ Balances from $2022$Cash $$500,000$; Accounts Receivable $$150,000$; Supplies $$105,000$; Machinery and Equipment $$700,000$; Other Creditors $$300,000$; and Capital $$1,155,000.$

Jan $2.$The following assets were received from Paul Zoukis in exchange for capital in the company: cash $-$$$300,000,$accounts receivable $-$$$150,000,$supplies $-$$$105,000,$and Machinery and Equipment$-$$$350,000.$

Feb $1.$ Paid fourteen $(14)$months$$rent on a lease rental contract at $$35,000$per month.

Mar $30.$ Paid the premiums on the property and peril insurance policies for fifteen $(15)$months amounting to $$150,000.$

April $4.$ Received cash from clients as an advance payment for services to be provided in the coming months, $$440,000.$

May $5.$Purchased forklift on account from Fatman Machinery and Equipment for $$400,000.$

June $6.$ Received cash from clients on account, $$200,000.$

June $10.$ Paid cash for security services amounting to $$54,000.$

Aug $12.$Paid Fatman Machinery and Equipment $$150,000$of the debt incurred on May $5.$

Sept $12.$Recorded services provided on account for the period July $1$Sept $12,$$$560,000.$

Sept $30.$ Paid part$-$time workers salary, $$226,000.$

Oct $17.$Recorded cash from cash clients for fees earned during the first half of year, $$501,250.$

Oct $30.$ Paid cash for supplies, $$95,000.$

Oct $30.$Recorded services provided on account for the period June to July, $$208,000.$

Nov $24.$Recorded cash from cash clients for fees earned for the period September $13-$Nov $24,$$$485,000.$

Nov $25.$ Received cash from clients on account, $$350,000.$

Nov $27.$Paid part$-$time workers for salary $$226,000.$

Dec $29.$ Paid telephone bill for the year $2022$$$290,000.$

Dec $30.$ Paid electricity bill for the year $2022$$$285,000.$

Dec $30.$Recorded cash from cash clients for fees earned for the period September $14-$Dec $30,$$$350,000.$

Dec $30.$ Recorded services provided on account for October to December $2022,$$$280,000.$

Requirement:

$1.$Prepare the opening journal entries and journalize each transaction in the general journal.

$2.$ Post the journal entries to their respective ledger accounts.

$3.$ Prepare a trial balance based on the balances derived after completing requirement #$2.$

$4.$ The company presented the following adjustments. Prepare the adjusting entries in the general journal

i$.$ Insurance expired during $2023,$ $$120,000.$

ii$.$ Supplies on hand on December $31,2023,$ $$5,000.$

iii. Unpaid salary on December $31,2023,$ $$526,000$

iv$.$ Rent NOT expired on December $31,2023,$ $$70,000$

v$.$ Unearned fees on December $31,2023,$ $ $400,000$

$5.$ Post the adjusting entries to their respective ledger accounts already started in requirement # $2.$

$6.$ Prepare the adjusted trial balance.

$7.$ Prepare all three $2023$ financial statements for presentation to Mr$.$ Zoukis

$8.$ Journalize the closing entries and balance off the ledger accounts including the income summary account.

$9.$ Prepare the post$-$closing trial balance.