Each student should work independently to complete the comprehensive problem. You may use yo and class notes, but you may not work together, seek help from the accounting lab or a private tut adhere to the honor code will result in a zero for this assignment nsive problem. You may use your textbook in the accounting lab or a private tutor. Failure to This assignment is due Friday December 6th at the beginning of class. No late submissions will be accer The trial balance of Pacolet Security System Sales & Service as of January 1, 2018, was as follows: was as follows: Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Merchandise Inventory - Standard Alarms (19 @ $240) Merchandise Inventory - Deluxe Alarms (10 @ $500) Accounts Payable Common Stock Retained Earnings 64,380 8,000 520 1,150 4,560 5,000 4.120 50,000 28,450 The following transactions occurred during 2018: Jan 1 Purchased a company van for $9.200 cash. The van had an estimated life of three years and estimated salvage value of $2,000. Jan 2 Paid $7.200 for one and a half year's rent in advance. Jan 15 Purchased 20 standard alarms systems for cash at a cost of $250 each. Feb 1 Paid S4,120 on accounts payable, but not within the discount period. Total cash paid was $4,204. Pacolet uses the net method to record inventory purchases. Mar 20 Purchased $500 of office supplies for cash. Apr 1 Purchased 10 deluxe alarm systems for cash at a cost of $550 each. Aug 1 Purchased another 25 standard alarm systems for cash at a cost of $260 each Sant Purchased on account 30 standard alarm systems at a cost of $265 each and 20 deluxe alarm systems at a cost of $575 each. Credit terms 2/10, n/30. Oct 3 Paid the September 50 invoice in full. Each student should work independently to complete the comprehensive problem. You may use yo and class notes, but you may not work together, seek help from the accounting lab or a private tut adhere to the honor code will result in a zero for this assignment nsive problem. You may use your textbook in the accounting lab or a private tutor. Failure to This assignment is due Friday December 6th at the beginning of class. No late submissions will be accer The trial balance of Pacolet Security System Sales & Service as of January 1, 2018, was as follows: was as follows: Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Merchandise Inventory - Standard Alarms (19 @ $240) Merchandise Inventory - Deluxe Alarms (10 @ $500) Accounts Payable Common Stock Retained Earnings 64,380 8,000 520 1,150 4,560 5,000 4.120 50,000 28,450 The following transactions occurred during 2018: Jan 1 Purchased a company van for $9.200 cash. The van had an estimated life of three years and estimated salvage value of $2,000. Jan 2 Paid $7.200 for one and a half year's rent in advance. Jan 15 Purchased 20 standard alarms systems for cash at a cost of $250 each. Feb 1 Paid S4,120 on accounts payable, but not within the discount period. Total cash paid was $4,204. Pacolet uses the net method to record inventory purchases. Mar 20 Purchased $500 of office supplies for cash. Apr 1 Purchased 10 deluxe alarm systems for cash at a cost of $550 each. Aug 1 Purchased another 25 standard alarm systems for cash at a cost of $260 each Sant Purchased on account 30 standard alarm systems at a cost of $265 each and 20 deluxe alarm systems at a cost of $575 each. Credit terms 2/10, n/30. Oct 3 Paid the September 50 invoice in full