3 Part 2 of 8 Required Information Problem 3-88 Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below) The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Account Debite Credits Cash $4,250 Accounts Receivable 9.250 Supplies 3,250 Equipment 31,000 Acolated Depreciation $ 7,000 Mocounts Payable 5.000 Utilities Payable 6,000 Deferred Revenge 0 Common Stock 20,500 Retained Earning 9.250 Totala $47.750 $47.750 11.11 points 02:58:34 The following is a summary of the transactions for the year: References 1. January 24 Provide plumbing service for cash, $17,500, and on account. 562.500 2. March 13 Collect on counts receivable, 950.500. 3. May 6 Tee shares of common stock in exchange for $12,000 cash 6. June 30 Paysalaries for the current year, $32,500. 5. September 15 Pay utilities of $6,000 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, 59,000. 7. December 30 Pay $2,500 cash dividends to stockholders The following information is available for the adjusting entries, Depreciation for the year on the machinery is $7.000. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $9,000 paid in advance by customers, 56,500 of the work has been completed by the end of the year. Accrued utilities of year-end amounted to $6,500 .11 oints Credit 8 02:58:08 Book PIPERS PLUMBING Unadjusted Trial Balance December 31, 2021 Accounts Dobit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Uits Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Utilities Expense Supplies Expense Depreciation Expense Totals $ Print References 0 $ 0