Part 1 Using the transactions listed below create the necessary journal entries in this excel document in the Journal entries tab. Once all of the journal entries are complete post each journal entry into the T accounts on the T accounts tab. After completing the T accounts create a post-closing Trial Balance

Using the transactions listed below create the necessary journal entries in this excel document in the Journal entries tab. For date use the # below. Remember each journal entry must have debits and credits equaling and at least two accounts. 1 Shareholder gave $75,000 cash to start PPU compnay 2 Shareholder gave land worth $10,000 and a building worth $85,000 to PPU company 3 PPU company bought equipment for $5,000. This equipment has a useful life of 4 years and a residual value of 1,000 4 PPU company bought inventory on account for $40,000 5 PPU company sold inventory costing 30,000 for $75,000 (need two journal entries) on account 6 PPU company paid $20,000 for the inventory purchased in $4 7 PPU received $50,000 from the customer in # 5 8 PPU paid $4,000 for Advertising 9 PPU paid $5,000 for rent 10 PPU paid $7,000 for payroll expense 11 PPU bought a Patent from another company for $3,000 12 PPU took out a loan using a Notes Payable for $20,000 13 PPU bought inventory for $20,000 14 PPU sold inventory costing $15,000 for $60,000 in cash (need two journal entries 15 Depreciate equipment for the year under the straightline method