GRADED PROJECTDirections: Be sure to make an electronic copy of your answer before submittingit to Ashworth College for grading. Unless otherwise stated, answer in completesentences, and be sure to use correct English spelling and grammar. Sourcesmust be cited in APA format. Your response should be a minimum of one(1) single-spaced page to a maximum of two (2) pages in length; refer to theâAssignment Formatâ page for specific format requirements.Part A(30 points)Prepare general journal entries to record the following transactions for the HarrisCompany. (The company uses the balance sheet approach for recording baddebts expense.)2010Dec. 31Recorded Bad Debts Expense, $8002011Jan. 3Wrote off Jalâs account as uncollectible, $60Mar. 4Wrote off Hallâs account as uncollectible, $75Jul. 5Recovered $45 from HallAug. 19Wrote off M. Wilsonâs account as uncollectible, $100Nov. 7Recovered $25 from JalPart B(10 points each for a possible total of 40 points)For each of the following, identify in Column 1 the category to which the accountbelongs, in Column 2 the normal balance for the account, in Column 3 thefinancial statement that the account in which the account balance is reported,and in Column 4 the accountâs nature (temporary/permanent).PRINCIPLES OF ACCOUNTING 1109(1)Column 1Column 2Column 3Column 4Column 1Column 2Column 3Column 4Column 1Column 2Column 3Column 4Column 1Column 2Column 3Column 4Interest payable(2)Interest receivable(3)Discount on notespayable(4)Store equipmentPart C(15 points each for a possible total of 30 points)A computer server system, which had cost $210,000 and had accumulateddepreciation of $147,000, was traded for a new system with a fair market valueof $235,000. The old system and cash of $180,000 were given for the new system.Prepare the journal entry for the exchange of these similar assets.Prepare journal entries for the following for Bartz, Inc.110May 11Replaced the engine in a Van #1, paying cash of $5,400May 18Paid cash for a tune-up of the engine in Van #2 of $570May 29Paid cash to add a lift to Van #2 of $3,700PRINCIPLES OF ACCOUNTING 1PROJECT UPLOADOnce youâve completed this assignment, login to the student portal athttps://students.ashworthcollege.edu. To log in, youâll need the username andpassword that you received via email. From the Student Portal page, enter yourusername and password (Figure 1). Then click Login.Figure 1The Home or Dashboard page of the Student Portal displays. To access yourcourses, click Courses in the upper right-hand banner (Figure 2).Figure 2PRINCIPLES OF ACCOUNTING 1111Click on Lessons to access your My Courses page and navigate to the finalsegment of your program using the My Sites button on the top right of the MyCourses page (Figure 3).Figure 3Click on Assignments under Quick Links on the left-hand navigation menu(Figure 4).Figure 4112PRINCIPLES OF ACCOUNTING 1Click on the link for your graded project under Assignment title in the center ofyour screen (Figure 5).Figure 5Click on the Browse button at the bottom of the page to locate and attach yourfinished project. When you have attached your file, check the Honor Pledge boxto confirm that youâre submitting your own work for the assignment. Then clickSubmit (Figure 6).Figure 6PRINCIPLES OF ACCOUNTING 1113Youâll see a confirmation message that tells you your project has beensuccessfully submitted to the school (Figure 7).Figure 7114PRINCIPLES OF ACCOUNTING 1