Please help me with this.

**Must use formulas and link to cells throughout Excel file. Please name your project; i.e. Your Last Name_302 Project A. Record the journal entries for the December transactions. **Must show formulas in cells. B. Record the adjusting journal entries for 12/31/23. **Must show formulas in cells. C. Set up a worksheet using Excel to: Prepare the Unadjusted Trial Balance as of December 31, by mk king the December adjustments (separate columns). **Must link cells to journal entries. & Enter the adjusting journal entries into worksheet (separate columns). **Must link cells to journal entries. Prepare the Adjusted Trial Balance as of December 31. **Use formulas. A. December Journal Entries Record the following entries in general journal form for December 2023: 1 December 1: Recorded sales on account of $650,000, 4/15, net 45. Cost of inventory was $305,000. FitRight Co, Inc. uses the net method for accounting for sales. 2 December 2: Purchased Equipment for $800,000, paying $450,000 down and signed a 8%, 2 year note, for the balance. This equipment will be depreciated using the double declining method over 9 years, and no salvage value. 3 December 3: Collected 545{ 0,000 on cut}tanding accounts. 4 December 4: Bought back 20,000 shares of stock for $22 per share. 5 December 5: Paid inveices of $535,000 to suppliers. The invoices related to inventory purchases that had been previously recorded. 6 December 6: Issued 20,000 shares of restricted stock to its CFO. The stock has a fair value of $480,000. The service period related to this restricted stock is 4 years. Vesting occurs if the CFO stays with the company for 6 years. The par value of the stock is $1. 7 December 7: Purchased inventory of $752,000 on account with terms 2/10 net 0. FitRight Co, Inc. uses the net method for its purchases. 8 December 8: Received payment related to sale on December 1. 9 December 9: Purchased debt investments, without the intention to sell in the near term, for $367,000, plus commissions of $37,000. 10 December 10: Paid off short-term note from 12/1 trial balance plus interest of $1,000. 11 December 11: Paid invoices of $298,000 to suppliers. The invoices related to inventory purchases that had been previously recorded. 12 December 13: Issued 60,000 shares of common stock at $25 per share \fB. Adjusting Journal Entries Record the following adjusting entries in general journal form as of December 31, 2023: 1. Supplies on hand at the end of the year: $2,100. 2. Equipment shown on the 12/1 TB was purchased on 1/1/17, has a 8-year life, no salvage value and the company uses double- declining balance method for its depreciation. 3. Don't forget to depreciate the new equipment, which is also depreciated using the DDB method! 4. Included in the truck balance is a fully depreciated truck for $6,500 (see additional information below) and a new truck valued at $50,000 that was purchased on 1/1/17. The new truck has an 8-year life, no salvage value and the company uses the sum-of-the-years digits for its depreciation method on this asset. 5. The building, placed in service on July 1, 2018, is being depreciated under the straight-line method over 39 years. ) 6. The machinery, purchased on December 1, 2020, has a 5-year useful life, salvage value of $4,000, and is being depreciated under the straight-line method. 7. The patent, purchased on 1/1/2013 for $150,000, has a useful life is 20 years. 8. Included in the Prepaid Insurance Account balance at 12/1 is a $75,000, 12-month insurance policy that was purchased on September 30, 2023. 9. Also included in the 12/1 trial balance (and the 12/31 TB) was an insurance policy that expired on 12/31/23. 10. The fair market value of the Equity Investments (Trading securities) is $16,375 12. The total fair value of the Debt Investments (Available for Sale Securities) is $520,000 13. 1.5% of Accounts Receivable is estimated to be uncollectible. Company uses the allowance method for estimating its uncollectible accounts. 14. Accrued salaries of $178,000 and accrued payroll taxes of 6.2%. 15. Had issued $2,000,000 of 4%, 10-year bond, dated 1/1/18 for $1,844,106 when the market rate was 5%. Interest is paid on June 30 and January 1 using the effective interest rate method. The June payment is included in the Dec. 1 TB. Extra credit of 5 points if a complete amortization table (all 10 years) is included. Partial extra credit may be awarded. 16. One month has passed since the issuance of restricted stock. 17. Interest should be accrued on 30 days of long-term note payable, dated 12/2/23. 18. Income tax rate is 21%. \f\f\f11,111 11,111 38,889 2018 9,722 20,833 29,167 2019 8,333 29,166 20,834 2020 6,944 36,111 13,889 2021 5,556 41,666 8,334 2022 4,167 45833 4,167 2,778 48,611 1,389 2020 850,000 14,100 14,100 1 mo deprec. In first year 2021 835,900 169,200 183,300 666,700 2022 666,700 169,200 352,500 497,500 | ] 2023 497,500 169,200 521,700 328,300 Sale of Equipment (from additional info tab). Do the JE! Where do the elements from this transaction go on the SCF? \fNOTE: This is a mandatory assignment. Failure to complete any part of the project means failure in this course, See Project Scoring Rubric for additional detail related to grading. Included in this spreadsheet are the following: e Part | Instructions Journal entry descriptions for December Adjusting journal entry descriptions e Part Il Instructions e Part Ill Instructions