5 @ 217 OO @ 18%. ee The trial balance of Pacilio Security Services Inc. as of January 1, 2017, had the following normal balances: S78,972 Cash Petty Cash Accounts Receivable Supplies Prepaid Rent Merchandise Inventory 123 @ $280) Land Accounts Payable Salaries Payable Common Stock Retained Earnings 50,000 74662 During 2017 Pacilio Security Services experienced the following transactions: 1. Paid the salaries puyable from 2016, 2. Paid $4.800 on March 2017 for one year's lease in advance on the company van. 3. Paid S8.400 on May 2, 2017 for one years ollice rent in advance. 4. Purchased SS50 of supplies on account 5. Paid cash to purchase 10 alarm systems at a cost of $285 each 6. Pacilio has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately di Sill, stating this on the N year UVI Purchased 350 or supplies on account S Paid cash to purchase 105 alarm systems at a cost of $285 each Pitio has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that incollectible accounts expense is approximately 3 percent of total credit sales Pacilio has decided it will, starting this year adopt the allow ance method of accounting for uncollectible accounts. It will record an adjustment recognize the estimate at the end of the year. 7. In trying to collect several of its delinquent accounts, Pacilio has learned that these custom ers have either declared bankruptcy or moved and len no forwarding address. These uncol lectible accounts amount to S1.900. & Sold 110 alarm systems for $63.800. All sales were on account. (Compute cost of goods sold using the FIFO cost flow method.) 9. Paid the balance of the accounts payable 10. Pacilio began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of 4 percent. Total monitoring services for the year were $68,000 Pacilio accepted credit cards for S24,000 of this amount. The other S44,000 was sales on account. 11. On July 1-2017. Pacilio replenished the petty cash fund. The fund contained S21 of currency and receipts of $50 for yard mowing. S22 for oflice supplies expense, and S9 for miscella- neous expenses 12. Collected the amount due from the credit card company. Accountin 13. Paid installers and other employees a total of $45,000 cash for salaries. 14. Collected $116.800 of accounts receivable during the year. 15. Paid S9,500 of advertising expense during the year. 16. Paid $5,200 of utilities expense for the year. 17. Paid a dividend of S20,000 to the shareholders. Adjustments 18. There was $250 of supplies on hand at the end of the year. 19. Recognized the expired rent for both the van and the office for the year. 20. Recognized the uncollectible accounts expense for the year using the allowance method. 21. Accrued salaries at December 31, 2017 were $2,100. Required a. Record the above transactions in general journal form. b. Post the transactions to the T-accounts. c. Prepare a trial balance. d. Prepare an income statement statement of changes in stockholders equity, balance sheet and statement of cash flows e. Close the temporary accounts to retained earnings. 1. Post the closing entries to the T-accounts and prepare a post-closing trial balance