A dog training business began on December 1. The following transactions occurred during its first month. December 1 Receives $26,000 cash as an owner investment in exchange for common stock. December 2 Pays $6,720 cash for equipment. December 3 Pays $3,960 cash December 4 Pays $1,120 cash December 7 Provides all-day (insurance premium) for a 12-month insurance policy. Coverage began on December 1. for December rent expense. training services for a large group and immediately collects $1,400 cash. December 8 Pays $230 cash in wages for part-time help. December 9 Provides training services for $2,520 and rents training equipment for $660. The customer is billed $3,180 for these services. December 19 Receives $3,180 cash from the customer billed on Dec. 9. December 20 Purchases $2,060 of supplies on credit from a supplier. December 23 Receives $1,720 cash in advance of providing a 4-week training service to a customer. December 29 Pays $1,330 cash as a partial payment toward the accounts payable of Dec. 20. December 30 Distributed a $530 cash dividend to the owner. Information for month-end adjustments follows: December 31 One month of the 12-month, $3,960 insurance policy is expired by December 31. This leaves $3,630 not yet expired. December 31 A physical count of supplies on December 31 shows that only $1,230 of supplies remain of the $2,060 supplies purchased. December 31 The $6,720 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 $6,720 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 $1,720 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. On December 31, wages of $630 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 $4,380, or $730 per week. The customer agrees to pay the full $4,380 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. December 31 Checla

A dog training business began on December 1 . The following transactions occurred during its first month Decenber 1 Recelves $26, eee cash as an owner investeent in exchange for conoon stock. Decenber 2 Pays $5,720 cash for equipnent. Decenber 3 Pays 53,960 cash (insurance prealum) for a 12 -aonth Insurance pollcy. Coverage began on Decenber 1. Decenber 4 Pays $1,120 cash for Decenber rent expense. December 7 Provides all-day training services for a large group and innediately collects $1,400 cash. Decenber is Pays $230 cash in wages for part-time help. Decenber 9 Provides training services for \$2,520 and rents training equipent for \$66e. The custoner 1 s billed $3,180 for these services. Decenber 19 Receives $3,180 cash from the custoner bllled on Dec, 9. Deceeber 20 Purchases $2, 060 of supplies on credit from a supplier. Decenber 23 Heceives $1,720 cash in advance of providing a 4 -week training service to a custoner. December 29 Pays $1,330 cash as a partial paysent toward the accounts payable of Dec. 20. Decenber 30 Distributed a $530 cash dividend to the owner. Information for month-end adjustments follows: Decenber 31 One nonth of the 12-month, \$3,96e Insurance policy is expired by 0ecenber 31 . This 1eaves $3,639 not yet expired. Decenber 31 A physical count of supplies on Oecenber 31 shows that only $1,230 of supplies remain of the $2, 0ed supplies purchased: Decenber 31 The $6,720 of equipnent purchased at the beginning of Decenber has a usefui 1ife of 5 years and wili be worth nothing at the end of 5 years (6e nonths). The business uses straight-1ine deprectation to allocate the 56,720 net cost over 6 e months. On Decenber 31,1 month of depreciation must be recorded. Decesber. 31 The business agreed on Decenber 23 to provide a 4-week training service to a custoner for a fined fee of $1,720 paid in advance. Dy 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 Decenber 31 , wages of $630 are owed to a part-tise employee for work done over the past 3 weeks, Those wages are not yet patd or recorded. customer agrees to pay the full 24,380 at the end of 6 weeks when services are complete. By Decenber 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