As the bookkeeper of Palmers Plowing, you have been asked to complete the entire accounting cycle for Palmer from the following information. LO1,2,3 (150 min) S50/QB 201X

Jan. 1 Palmer invested $9,000 cash and $9,000 worth of snow equipment into the plowing company. 1 Paid 5 months rent in advance for garage space, $4,000. 4 Purchased office equipment from Lewis Corp. for $9,600 on account. 6 Purchased snow supplies for $600 cash. 8 Collected $11,000 from plowing local shopping centers. 12 Palmer Mao withdrew $8,000 from the business for personal use. 20 Plowed Riverton Co. parking lots, payment not to be received until March, $8,000. 26 Paid salaries to employees, $2,100. 28 Paid Lewis Corp. one-half amount owed for office equipment. 29 Advertising bill received from Taft Co. but will not be paid until March, $300. 30 Paid telephone bill, $180.

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