(5) Pay $7,200 of payroll on January 1 which covers December 2022. Payroll is paid monthly on the first of the following month. The January payroll of $8,000 will be paid on February 1, 2023 (6) Collect $105,000 from accounts receivable cash accounts receivable (7) Pay cash dividends of $12,000. retained earnigns cash (9) Receive $12,000 from a customer for a service which will be performed sometime in March 2023. (10) On January 15, 2023, bill all of the receivables that were unbilled at the end of December 2022. 105,000 (8) Earn revenue for a service in the amount of $5,000, but the billing does not occur until sometime after the end of the month. 55 56 57 58 59 60 61 BASED ON ALL OF THE FACTS AND JOURNAL ENTRIES REPORTED, RECORD ALL ADJUSTING ENTRIES REQUIRED AT JANUARY 31 BELOW 62 NOTE... THESE ARE PART OF THE ACTIVITY FOR THE MONTH, BE SURE TO INCLUDE WHEN YOU PRESENT YOUR FINANCIAL STATEMENTS IN PART II 63 64 65 66 Free check from me: 12,000 JOURNAL ENTRIES BALANCE? 105,000 12,000 should be zero

(5) Pay $7,200 of payroll on January 1 which covers December 2022. Payroll is paid monthly on the first of the following month. The January payroll of $8,000 will be pald on February 1,2023 (6) Collect $105,000 from accounts recelvable cash accounts receivable (7) Pay cash dividends of $12,000. 12,000 retained earnigns cash (8) Earn revenue for a service in the amount of $5,000, but the billing does not occur until sometime after the end of the month. (9) Receive $12,000 from a customer for a service which will be performed sometime in March 2023. (10) On January 15, 2023, bill all of the recelvables that were unbilled at the end of December 2022. Freecheck from me: JOURNAL ENTRIES BALANCE? should be zero BASED ON ALL OF THE FACTS AND JOURNAL ENTRIES REPORTED, RECORD ALL ADJUSTING ENTRIES REQUIRED AT JANUARY 31 BELOW NOTE... THESE ARE PART OF THE ACTIVITYFOR THE MONTH, BE SURE TO INCIUDE WHEN YOU PRESENT YOUR FINANCIAL STATEMENTS IN PARTII