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Collected $$76,500$ cash from accounts receivable.

Paid $$35,000$ cash for salary expense.

Paid $$33,600$ cash as a partial payment on accounts payable.

Adjusting Entries

$8.$ Made the adjusting entry for the expired rent. $($See Event $2.)$

$9.$ Recorded $$5,200$ of accrued salaries at the end of Year $1.$

Events for Year $2$

Paid $$5,200$ cash for the salaries accrued at the end of the prior accounting period.

Performed services for cash of $$49,000.$

Purchased $$4,200$ of supplies on account.

Paid $$14,700$ cash in advance for rent. The payment was for one year beginning April $1,$ Year $2.$

Performed services for customers on account for $$116,000.$

Incurred operating expenses on account of $$55,500.$

Collected $$103,000$ cash from accounts receivable.

Paid $$53,000$ cash as a partial payment on accounts payable.

Paid a $$11,000$ cash for salary expense.

$03$:$36$:$30$ Events for Year $21.$ Paid $$5,200$ cash for the salaries accrued at $2.$ Performed services for cash of $$49,000.3.$ Purchased $$4,200$ of supplies on $4.$ Paid $$14,700$ cash in advance for rent. The $5.$ Performed services for customers on accoun $6.$ Incurred operating expenses on account Book Collected $$103,000$ cash from accounts $8.$ Paid $$53,000$ cash as a partial payment on $9.$ Paid $$32,900$ cash for salary expense. $10.$ Paid a $$11,000$ cash dividend to stockholders.

Adjusting Entries

Made the adjusting entry for the expired rent. $($Hint: Part of the rent was paid in Year $1.)$

Recorded supplies expense. A physical count showed that $$600$ of supplies were still on hand.

e$.$ Record the entries to close the Year $1$ temporary accounts to Retained Earnings in the general journal. In th the balances before closing $($from Part b$),$ then post the closing entries. $($If no entry is required for a transact journal entry required" in the first account field.$)$

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$14,65$

$15$

$16$

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