21 A dog training business began on December 1. The following transactions occurred during its first month. December 1 Receives $33,000 cash as an owner investment. December 2 Pays $7,560 cash for equipment. December 3 Pays $4,380 cash (insurance premium) for a 12-month insurance policy. Coverage began on December 1. December 4 Pays $1,260 cash for December rent expense. December 7 Provides all-day training services for a large group and immediately collects $1,750 cash. December 8 Pays $265 cash in wages for part-time help. December 9 Provides training services for $2,660 and rents training equipment for $730. The customer is billed $3,390 for these services. December 19 Receives $3,390 cash from the customer billed on Dec. 9. December 20 Purchases $2,130 of supplies on credit from a supplier. December 23 Receives $1,860 cash in advance of providing a 4-week training service to a customer. December 29 Pays $1,365 cash as a partial payment toward the accounts payable of Dec. 20. December 30 Withdrawal of $565 cash by the owner for personal use. Information for month-end adjustments follows: December 31 One month of the 12-month, $4,380 insurance policy is expired by December 31. This leaves $4,015 not yet expired. December 31 A physical count of supplies on December 31 shows that only $1,265 of supplies remain of the $2,130 supplies purchased. December 31 The $7,560 of equipment purchased at the beginning of December has a useful life of 5 years and will be worth nothing at the end of 5 years (60 months). The business uses straight-line depreciation to allocate the $7,560 net cost over 60 months. On December 31, 1 month of depreciation must be recorded. December 31 The business agreed on December 23 to provide a 4-week training service to a customer for a fixed fee of $1,860 paid in advance. By December 31, the business has provided 1 of the 4 weeks of services and earned one-fourth of the fee. No revenue is yet recorded. December 31 On December 31, wages of $665 are owed to a part-time employee for work done over the past 3 weeks. Those wages are not yet paid or recorded. December 31 The business agreed to provide 6 weeks of training services to a customer for a fee of $4,590, or $765 per week. The customer agrees to pay the ful $4,590 at the end of 6 weeks when services are complete. By December 31, 2 weeks of services have been provided, but the business has not yet billed the customer or recorded the 2 weeks of services provided. General Ledger Income Statement St Owners Equity Prepare the required journal entries, adjusting entries, and closing entries. Requirement General Journal Trial Balance Balance Sheet Post Closing

A dog training business began on December 1 . The following transactions occurred during its first month. Decenber 1 Receives $33,000 cash as an Owner imvestnent. Deceaber 2 Pays $7,560 cash for equipment. Deceaber 3 Pays $4,380 cash (insurance preafun) for a 12 -month insurance policy. Coverage began on Decenber 1. Deceaber 4 Pays $1,260 cash for Decenber rent expense. Deceaber 7 Provides all-day training services for a large group and inhediately cotlects $1,750 cash. Deceeber 8 Pays $265 cash in wages for part-time help. December 9 Provides training services for $2,660 and rents training equipment for $738. The custoner is bitled $3,390 for these services. Deceaber 19 Receives $3,390 cash from the custoner billed on Dec. 9. Decenber 20 Purchases $2,130 of supplies on credit fros a supplier. Deceaber 23 . Receives $1,860 cash in advance of providing a 4 -week training service to a custoner. Decenber 29 Pays $1,365 cash as a partial payeent toward the accounts payable of Dec. 20 . Deceaber 30 Withdrawal of $565 cash by the owner for personal use. Information for month-end adjustments follows: Decenber 31 One month of the 12 -nonth, $4,380 insurance policy is expired by Decenber 31 . This 1 teaves 54,015 not yet expired. Decenber 31 A physical count of supplies on Deceaber 31 shows that only $1,265 of supplies reasin of the $2,130 supplies purchased. Decenber 31 The $7,56 of equipent purchased at the beginning of Decenber has a usefut 11 fe of 5 years and with be worth nothing at the end of 5 years ( 60 -nonths). The business uses straight-line depreciation to allocate the $7,560 net cost over 60 months, On Decener 31,1 month of depreciation aust be recorded. Deceaber 31 The business agreed on Decenber 23 to provide a 4 -week training service to a custoner for a fixed fee of. \$1, A60 paid in advance. By December 31 , the business has provided 1 of the 4 weeks of sefvices and earned one-fourth of the fee. No revenue is yet recorded. Decenber 31 On Decenber 31 , wages of $665 are owed to a part-time enployee for work done over the past 3 weeks. Those vages are not yet paid or recorded. Decenber 31 The business agreed to provide 6 weeks of training services to a customer for a fee of $4,590, or $765 per week. The custoner agrees to pay the full $4,590 at the end of 6 weeks when services are conplete. By. Decenber 31,2 weeks of services have been provided, but the business has not yet bithed the custoner or recorded the 2 weeks of services provided. A dog training business began on December 1. The following transactions occurred during its first month. Decenter 1 Recetves $33, evo cast as an ouner thwesteent. Decerber 2 Pays 57,560 cash for equipment. Decenber 3 Pays 54,380 cash (insurance preatsa) for a 12-aonth Insurance policy. Coverage began on Decenber 1. Decenber 4 Pays $1,260 cash for Decenber rent expense. Decenber 7 Provides all-day training services for a large group and immediately collects $1,750 cash. Decenber is Pays $265 cash in wages for part-tine help. Decenber 9 Provides training services for $2,660 and rents training equiptent for $730. The custoeer is bitled $3,390 for these services. Decenber 19 Recelves 53,390 cash fron the custoner billed on Dec. 9. Decenber 20 purchases $2,130 of suppties on credit from a supptier. Decenber 23 Mecelves $1,860 cash in advance of providing a 4-week training service to a custoner. Decenber 29 Pays $1,365 cash as a partial payaent toward the accounts payable of Dec. 20. Decenber 30 withdrawat of $565 casb by the owner for personal use. Information for month-end adjustments follows: Decenber 31 One month of the 12-nonth, \$4,38e insurance poticy is explred by Decenber 31 . This leaves $4, e15 not yet expired. Decenber 31 . A physical count of supplies on Decenber 31 shows that only $1,265 of supplies remain of the $2,130 supplies purchased. Decenber 31 The 57,560 of equipment purchased at the beginning of Decenber has a useful life of 5 years and witl be worth nothing at the end of 5 years ( 60 months). The business uses straight-line depreciation to allocate the $7,560 net cost over 68 months. On Decenber 31 , 1 nonth of depreciation nust be recorded. Decenber 31 The business agreed on Decenber 23 to provide a 4-week training service to a custoer for a f ixed fee of $1,860 paid in advance, by Decenter 31 , the business has provided 1 of the 4 weeks of services and earned one-fourth of the fee. No revenue is yet recorded. Deceeber 31 On Decesber 31 , wages of $665 are ewed to a part-tibe enployee for work done over the past 3 weeks. Toose wages are not yet paid or recorded. Decenber 31 The business agreed to provide 5 weeks of training services to a custoner for a tee of 54,590 , or 5765 per week. The custoner agrees to pay the fult $4,390 at the end of 6 weeks whes services are coeplete. By Deceober 31, 2 weeks of services have been provided, but the business has not yet bitled the custoser or recorded the 2 weeks of services provided. Prepare the required journal entries, adjusting entries, and closing entries. A dog training business began on December 1 . The following transactions occurred during its first month. Deceober 1 Receives $33, eoa cash as an owner investinent. Deceaber 2 Pays $7,560 cash for equiphent. Decenber 3 Pays 54,38 a cash (insurance prealun) for a 12 -month insurance poticy. Coverage began on Decenber 1 . Decenber 4 Pays 51,260 cash for Decenber rent expense. Decenber 7 provides all-day training services for a large group and innediately coltects $1,750 cash. Decenber is Pays $265 cash in wages for part-tine help. Decenber 9 Provides training services for $2,660 and rents training equipment for $730. The custoner is billed $3,390 for these services. Decenber 19 Receives $3,390 cash fron the custoner bitled on Dec, 9. Decenber 20 Purchases $2,130 of supplies on credit fron a supplier. Deceaber 23 Receives $1,860 cash in advance of providing a 4-week training service to a custoner. December 29 Pays $1,365 cash as a partial paynent toward the accounts payable of Dec. 20 . Deceaber 30 withdrawal of $565 cash by the omer for personat use. Information for month-end adjustments follows: Deceaber 31 One manth of the 12 -honth, $4,380 insurance policy 15 expired by Decenber 31 . This leaves $4,015 not yet expired. Decenber 31 A physical count of suppties on Deceaber 31 shows that only $1,265 of supplies rena1n of the $2,136 supplies purchased. Decenber 31 The $7,560 of equipaent purchased at the beginning of Decenber has a useful life of 5 years and with be worth nothing at the end of 5 vears ( 60 months). The business uses straight-line depreciation to allocate the 57,56 e net cost over 60 aonths. On Decenber 31,1 month of depreciation nust be recorded. Decenber 31 The business agreed on Decenber 23 to provide a 4-week training service to a custaner for a fixed fee of $1,860 paid in advance. By Decenber 31 , the business has provided 1 of the 4 weeks of services and earned one-fourth of the fee. No revenue is yet recorded. Decenber 31 On Deceober 31, wages of $665-are owed to a part-tine enployee for work done over the past 3 weeks. Those wages are not yet paid or recorded. Decenber 31 The business agreed to provide 6 weeks of training services to a customer for a fee of $4,590, or $765 per week. The custoner agrees to pay the full $4,590 at the end of 6 weeks when services are coaplete. By Deceaber 31,2 weeks of services have been provided, but the business has not yet billed the custoner or recorded the 2 weeks of services provided. Prepare the required journal entries, adjusting entries, and closing entries. A dog training business began on December 1 . The following transactions occurred during its first month. Decenber 1 Receives $33,000 cash as an Owner imvestnent. Deceaber 2 Pays $7,560 cash for equipment. Deceaber 3 Pays $4,380 cash (insurance preafun) for a 12 -month insurance policy. Coverage began on Decenber 1. Deceaber 4 Pays $1,260 cash for Decenber rent expense. Deceaber 7 Provides all-day training services for a large group and inhediately cotlects $1,750 cash. Deceeber 8 Pays $265 cash in wages for part-time help. December 9 Provides training services for $2,660 and rents training equipment for $738. The custoner is bitled $3,390 for these services. Deceaber 19 Receives $3,390 cash from the custoner billed on Dec. 9. Decenber 20 Purchases $2,130 of supplies on credit fros a supplier. Deceaber 23 . Receives $1,860 cash in advance of providing a 4 -week training service to a custoner. Decenber 29 Pays $1,365 cash as a partial payeent toward the accounts payable of Dec. 20 . Deceaber 30 Withdrawal of $565 cash by the owner for personal use. Information for month-end adjustments follows: Decenber 31 One month of the 12 -nonth, $4,380 insurance policy is expired by Decenber 31 . This 1 teaves 54,015 not yet expired. Decenber 31 A physical count of supplies on Deceaber 31 shows that only $1,265 of supplies reasin of the $2,130 supplies purchased. Decenber 31 The $7,56 of equipent purchased at the beginning of Decenber has a usefut 11 fe of 5 years and with be worth nothing at the end of 5 years ( 60 -nonths). The business uses straight-line depreciation to allocate the $7,560 net cost over 60 months, On Decener 31,1 month of depreciation aust be recorded. Deceaber 31 The business agreed on Decenber 23 to provide a 4 -week training service to a custoner for a fixed fee of. \$1, A60 paid in advance. By December 31 , the business has provided 1 of the 4 weeks of sefvices and earned one-fourth of the fee. No revenue is yet recorded. Decenber 31 On Decenber 31 , wages of $665 are owed to a part-time enployee for work done over the past 3 weeks. Those vages are not yet paid or recorded. Decenber 31 The business agreed to provide 6 weeks of training services to a customer for a fee of $4,590, or $765 per week. The custoner agrees to pay the full $4,590 at the end of 6 weeks when services are conplete. By. Decenber 31,2 weeks of services have been provided, but the business has not yet bithed the custoner or recorded the 2 weeks of services provided. A dog training business began on December 1. The following transactions occurred during its first month. Decenter 1 Recetves $33, evo cast as an ouner thwesteent. Decerber 2 Pays 57,560 cash for equipment. Decenber 3 Pays 54,380 cash (insurance preatsa) for a 12-aonth Insurance policy. Coverage began on Decenber 1. Decenber 4 Pays $1,260 cash for Decenber rent expense. Decenber 7 Provides all-day training services for a large group and immediately collects $1,750 cash. Decenber is Pays $265 cash in wages for part-tine help. Decenber 9 Provides training services for $2,660 and rents training equiptent for $730. The custoeer is bitled $3,390 for these services. Decenber 19 Recelves 53,390 cash fron the custoner billed on Dec. 9. Decenber 20 purchases $2,130 of suppties on credit from a supptier. Decenber 23 Mecelves $1,860 cash in advance of providing a 4-week training service to a custoner. Decenber 29 Pays $1,365 cash as a partial payaent toward the accounts payable of Dec. 20. Decenber 30 withdrawat of $565 casb by the owner for personal use. Information for month-end adjustments follows: Decenber 31 One month of the 12-nonth, \$4,38e insurance poticy is explred by Decenber 31 . This leaves $4, e15 not yet expired. Decenber 31 . A physical count of supplies on Decenber 31 shows that only $1,265 of supplies remain of the $2,130 supplies purchased. Decenber 31 The 57,560 of equipment purchased at the beginning of Decenber has a useful life of 5 years and witl be worth nothing at the end of 5 years ( 60 months). The business uses straight-line depreciation to allocate the $7,560 net cost over 68 months. On Decenber 31 , 1 nonth of depreciation nust be recorded. Decenber 31 The business agreed on Decenber 23 to provide a 4-week training service to a custoer for a f ixed fee of $1,860 paid in advance, by Decenter 31 , the business has provided 1 of the 4 weeks of services and earned one-fourth of the fee. No revenue is yet recorded. Deceeber 31 On Decesber 31 , wages of $665 are ewed to a part-tibe enployee for work done over the past 3 weeks. Toose wages are not yet paid or recorded. Decenber 31 The business agreed to provide 5 weeks of training services to a custoner for a tee of 54,590 , or 5765 per week. The custoner agrees to pay the fult $4,390 at the end of 6 weeks whes services are coeplete. By Deceober 31, 2 weeks of services have been provided, but the business has not yet bitled the custoser or recorded the 2 weeks of services provided. Prepare the required journal entries, adjusting entries, and closing entries. A dog training business began on December 1 . The following transactions occurred during its first month. Deceober 1 Receives $33, eoa cash as an owner investinent. Deceaber 2 Pays $7,560 cash for equiphent. Decenber 3 Pays 54,38 a cash (insurance prealun) for a 12 -month insurance poticy. Coverage began on Decenber 1 . Decenber 4 Pays 51,260 cash for Decenber rent expense. Decenber 7 provides all-day training services for a large group and innediately coltects $1,750 cash. Decenber is Pays $265 cash in wages for part-tine help. Decenber 9 Provides training services for $2,660 and rents training equipment for $730. The custoner is billed $3,390 for these services. Decenber 19 Receives $3,390 cash fron the custoner bitled on Dec, 9. Decenber 20 Purchases $2,130 of supplies on credit fron a supplier. Deceaber 23 Receives $1,860 cash in advance of providing a 4-week training service to a custoner. December 29 Pays $1,365 cash as a partial paynent toward the accounts payable of Dec. 20 . Deceaber 30 withdrawal of $565 cash by the omer for personat use. Information for month-end adjustments follows: Deceaber 31 One manth of the 12 -honth, $4,380 insurance policy 15 expired by Decenber 31 . This leaves $4,015 not yet expired. Decenber 31 A physical count of suppties on Deceaber 31 shows that only $1,265 of supplies rena1n of the $2,136 supplies purchased. Decenber 31 The $7,560 of equipaent purchased at the beginning of Decenber has a useful life of 5 years and with be worth nothing at the end of 5 vears ( 60 months). The business uses straight-line depreciation to allocate the 57,56 e net cost over 60 aonths. On Decenber 31,1 month of depreciation nust be recorded. Decenber 31 The business agreed on Decenber 23 to provide a 4-week training service to a custaner for a fixed fee of $1,860 paid in advance. By Decenber 31 , the business has provided 1 of the 4 weeks of services and earned one-fourth of the fee. No revenue is yet recorded. Decenber 31 On Deceober 31, wages of $665-are owed to a part-tine enployee for work done over the past 3 weeks. Those wages are not yet paid or recorded. Decenber 31 The business agreed to provide 6 weeks of training services to a customer for a fee of $4,590, or $765 per week. The custoner agrees to pay the full $4,590 at the end of 6 weeks when services are coaplete. By Deceaber 31,2 weeks of services have been provided, but the business has not yet billed the custoner or recorded the 2 weeks of services provided. Prepare the required journal entries, adjusting entries, and closing entries