I. Record financial data that accurately captures business transactions according to accepted accounting principles. A. Step One: Complete the “July Journal Entries” tab in your workbook using the Step One data in the appendix. B. Step Two: Complete the August Journal Entries’ tab in your workbook using the Step Two data in the appendix. C. Step Three: Complete the ‘September Journal Entries” tab in your workbook using the Step Three data and updated scenario information in the appendix. Note that there was an additional line of products added this month, so you must first complete the “Inventory Valuation” tab in your workbook and then copy the journal entries from the inventory evaluation page into your journal for this month to ensure the impact of merchandising is reflected in your reporting.
D. Step Four: Transfer posted entries to T accounts.

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