Comprehensive review of the P5.2C. From the following transactions as well as additional data, please complete the entire accounting cycle, Chapters 15 (3) (175min) entire accounting cycle for Mike's Plumbing of Prince Albert. (Use a chart of accounts similar to the one in Problem P5-1A on page 228.) Chnde Fanr 2022 Net income $5,388,44 May 1 To open the business, Mike Quinlan invested $10,000 cash and $7,400 worth of plumbing equipment. 1 Paid rent for four months in advance, $1,980. 3 Purchased office equipment on account from MacKenzie Co, $3,800. 7 Bought plumbing supplies, \$1,645. 8 Collected $3,600 for plumbing services provided. 9 Mike paid his home utility bill with a company cheque, $122. 10 Billed Western Construction Co. for plumbing fees earned but not to be received until later, $9,600. 14 Advertising bill was received from ABCD Radio Co, but is not to be paid until next month, $420. 21 Received cheque from Western Construction Ca in partial payment of transaction dated May 10,$4,800. 28 Paid MacKenzie Co. one-half of amount owed for office equipment, $1,900. 31 Paid telephone bill of company, $184. 31 Received bill from George's Cleaning to be paid in Junc, $215. 31 Paid salaries to employees, $4,100. Adjusting Data a. Plumbing supplies remaining at month-end were $328. b. One month's rent expired in May. c. Depreciation on office equipment uses the straight-line method, a life of five years, and a residual value of $500. d. Depreciation of plumbing equipment also uses the smaight-line method, a life of three years, and zero residual value. Host Rlenine Trial Walsnee toral 52,k4,63 Comprehensive review of the P5-2C. From the following transactions as well as additional data, please complete the entire accounting cycle. entire accounting cycle for Mike's Plambing of Prince Albert. (Use a chart of Chapters 1-5 accoants similar to the one in Problem P5-1A on page 228.) ( ) 2(175min) 2022 Ches Fegarr May 1 To open the business, Mike Quinlan invested $10,000 cach and Net Income 55,388.44 $7,400 worth of plumbing equipment. 1 Paid rent for four months in advance, $1,980, 3 Purchased office equipment on account from MacKenzie Co, $3,800. 7 Bought plumbing supplies, $1,645. 8 Collected $3,600 for plumbing services provided. 9 Mike paid his home utility bill with a company cheque, $122. 10 Billed Westem Construction Co for plambing fees earned but not to be received until later, $9,600. 14. Advertising bill was received from ABCD Radio Ca, but is not to be paid until next month, $420. 21 Received cheque from Western Construction Co in partial payment of transaction dated May 10, $4,800. 28 Paid Mackenzie Ca one-half of amount owed for office equipment, S1,900. 31 Paid telephone bill of company, $184. 31 Received bill from George's Cleaning to be paid in June, $215. 31 Paid salaries to employees, $4,100. Adjusting Data a. Plumbing supplies remaining at month-end were $328. b. One month's rent expired in May. c. Depreciation on office equipment uses the straight-line method, a life of five years, and a residual value of $500. d. Depreciation of plumbing equipment also uses the straight-line method, a life of three years, and zero residual value. c. Salaries accrued amounted to 20% of the salaries paid on May 31