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1. Journalize the following December transactions. Dec. 2 Received $549 as advance payments on storage rental Dec. 5 Paid accounts payable of $712 Dec. 6

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1. Journalize the following December transactions. Dec. 2 Received $549 as advance payments on storage rental Dec. 5 Paid accounts payable of $712 Dec. 6 Paid insurance premiums of $8.490 in advance Dec. 7 Deposited $9,500 from completed moving iobs. Dec. 10 Purchased $1,980 of moving supplies on credit Dec. 12 Acquired additional truck worth $58,000 by paying $5,000 cash and signing a long-term note payable for the balance Dec. 14 Paid wages of $3,100 for the period Dec. 1-14 Dec. 17 Purchased $210 of office supplies on credit Dec. 21 Deposited $7,185 from completed moving jobs and $2,500 of storage revenue receipts Dec. 24 Paid $800 for repairs to truck for damages sustained in an accident. Dec. 28 Paid wages of $3,100 for the period Dec. 15-28. Dec. 30 Paid $975 to a magazine for advertisements that appeared in December Dec. 30 Paramount Declared and paid $2,000 in Dividends to the Shareholders Dec. 31 Deposited $5,840 from completed moving jobs and $1,200 of storage revenue receipts 2. Post the above December transactions into the General Ledger accounts. 3. Prepare an unadjusted trial balance 4. Journalize the following adjusting entries: a. Unpaid wages were $785 as of December 31 b. The December 31 office supplies inventory was $325 c. The moving supplies inventory was $4,450 on December 31 d. The unexpired portion of the prepaid insurance was $9,250as of Dec. 31 e. Depreciation for the year on the trucks was $50,500 f. Depreciation for the year on the building was $7,320 g. Unearned storage revenue balance at Dec. 31 was $620 h. Interest expense on the notes payable was $25,650 5. Post the adjusting entries 6. Prepare an adjusted trial balance 7. Prepare an income statement 8. Prepare a statement of owner's equity 9. Prepare a balance sheet 10. Journalize the closing entries 11. Post the closing entries 12. Prepare a post-closing trial balance CHECK FIGUPES: \begin{tabular}{|l|r|} \hline Unadjusted trial balance & 806,977 \\ \hline Adjusted trial balance & 891,232 \\ \hline Net Income & 31,704 \\ \hline \end{tabular}

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