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 in exchange for common stock.

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 $30$ Distributed a $$565$ cash dividend to the owner.

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 full $$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.

Requirement:

General Journal tab $-$ Prepare journal entries for the first month of operations. Prepare any necessary adjusting and closing entries for the current month.

General Ledger tab $-$ Each journal entry is posted automatically to the general ledger. Use the drop$-$down button to view the unadjusted, adjusted, or post$-$closing balances.

Trial Balance tab $-$ You may view the unadjusted, adjusted, or post$-$closing trial balances by choosing from the dropdown box below. Your choice will determine the reported values on the financial statement tabs$.$

Income Statement tab $-$ Use the drop$-$downs to select the accounts properly included on the income statement. The unadjusted, adjusted or post$-$closing balances will appear for each account, based on your selection.

Statement of Retained Earnings tab $-$ The unadjusted, adjusted or post$-$closing balances will appear for each account, based on your selection.

Balance Sheet tab $-$ Use the drop$-$downs to select the accounts properly included on the balance sheet. The unadjusted, adjusted or post$-$closing balances will appear for each account, based on your selection.

Post$-$Closing tab $-$ Use the drop$-$downs to indicate whether each account is included on the post$-$closing trial balance.