Accounting Cycle Project ONS plete the comprehensive accounting cycle for Jackson Corporation by following the instructions found on Pages 1 and 2, and the Project scenario items found on Page 3 pertains to Jackson Corporation's accounting cycle for the month of January 201s . The Project o RECORDING TRANSACTIONS Record all journal entries (initial, adjusting, and closing entries) in the General Journal. Use three (3) General Journal pages and number them 1, 2, and 3. PAGE 1-Initial transactions PAGE 2-Adjusting entries, PAGE 3-Closing entries No explanations necessary when recording journal entries. Use the appropriate following chart of accounts to record the journal entries: o o 101-Cash 102-Accounts Receivable 103-Supplies .104 Office Furniture 05-Accumulated Depreciation-Office Furniture 201-Accounts Payable 202-Unearned Revenue 203-Wages Payable 204-Interest Payable 205-Notes Payable .301 Capital Stock 302-Retained Earnings 401-Dividends 501-Revenue 601-Wages Expense 602-Supplies Expense 603-Depreciation Expense-Office Furniture 604-Interest Expense 999- INCOME SUMMARY o POSTING: Use the General Ledger for posting general journal entries (initial, adjusting, and closing). Need 10 sheets (2 accounts per sheet). ***Print Sheets from Blackboard** o Setup general ledger accounts for all 19 accounts listed above. Set up ledger in order stated above using their account numbers. o When posting from the General Journal to the General Ledger . In the LEDGER "POST REF" the General Journal page number 1, 2, or 3 In the JOURNAL, "POST REP" = the account's account number. o When POSTING Adjusting Entries *Write "Adjusting Entry" in the Description. o When POSTING Closing Entries: "Write "Closing Entry" in the Description. Page 1 of 4