A dog training business began on December 1. The following transactions occurred during its first month. December 1 Receives $25,000 cash as an owner investment in exchange for common stock. December 2 Pays $6,600 cash for equipment. December 3 Pays $3,900 cash (insurance premium) for a 12-month insurance policy. Coverage began on December 1. December 4 Pays $1,100 cash for December rent expense. December 7 Provides all-day training services for a large group and immediately collects $1,350 cash. December 8 Pays $225 cash in wages for part-time help. December 9 Provides training services for $2,500 and rents training equipment for $650. The customer is billed $3,150 for these services. December 19 Receives $3,150 cash from the customer billed on Dec. 9. December 20 Purchases $2,050 of supplies on credit from a supplier. December 23 Receives $1,700 cash in advance of providing a 4-week training service to a customer. December 29 Pays $1,325 cash as a partial payment toward the accounts payable of Dec. 20. December 30 Distributed a $525 cash dividend to the owner. Information for month-end adjustments follows: December 31 One month of the 12-month, $3,900 insurance policy is expired by December 31. This leaves $3,575 not yet expired. December 31 A physical count of supplies on December 31 shows that only $1,225 of supplies remain of the $2,050 supplies purchased. December 31 The $6,600 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 $6,600 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 $1,700 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 $625 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 $4,350, or $725 per week. The customer agrees to pay the full $4,350 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 General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Post Closing Prepare the required journal entries, adjusting entries, and closing entries.