ACTG 2014-Problem 1. Kindly formulate general journal transactions as per the norm for the following transactions below; 2. Simultaneously create Chart of Accounts as per the norm for the following transactions below; 3. Create Customer, Vendor and Employee Information where necessary and document contact information. Continued: 1. Create company file entitled: Eagleberg Industries; 2. Input data necessary for file: Chart of Accounts with descriptions, General Journals, Customer, Vendor or Employee information if necessary; 3. Generate the Profit and Loss Statement: 4. Generate the Balance Sheet. 5. Kindly RECORD NET INCOME OBTAINED! Problem: James Eagleberg started the Eagleberg Industries, a new business that began operations on May 1. Eagleberg Industries completed the following transactions during that first month: May I James Eagleberg, the owner, invested $60,000 cash in the business. May 1 Rented a furnished office and paid $3.200 cash for may's rent. May 3 Purchased $1,680 of office equipment on credit. Misy 5 Paid $800 oash for this month's oleaning services. May 8 Provided consulting services for a client and immediately collected $4,600cash. May 12 Provided $3,000 of consulting services for a cliont on credit. May 15 Paid $850 cash for an assistant's salary for the first half of this month. May 20 Received $3,000 cash payment for the services provided on May 12. May 22 Provided $2,800 of consulting services on credit. May 25 Received $2,800 cash payment for the services provided on May 22. May 26 Paid $1,680 cash for the office equipment purchased on May 3. May 27 Purchased $60 of advertising in this month's (May) local paper on credit; cash payment is due June 1. May 28 Paid $850 cash for an assistant's salary for the second half of this month. May 30 Paid $200 cash for this month's telephone bill. May 30 Paid $480 cash for this month's utilities. May 31 James Eagleberg withdrew $1,200 cash for personal use