Events Affecting the Year $1$ Accounting Period

$1.$Acquired $$77,000$ cash from the issue of common stock.

$2.$Purchased $$4,600$ of supplies on account.

$3.$Purchased land that cost $$52,000$ cash.

$4.$Paid $$4,600$ cash to settle accounts payable created in Event $2$

$\mathrm{.}5.$Recognized revenue on account of $$76,000.$

$6.$Paid $$38,000$ cash for other operating expenses.

$7.$Collected $$55,000$ cash from accounts receivable.

Information for Year $1$ Adjusting Entries

$8.$Recognized accrued salaries of $$4,900$ on December $31,$ Year $1.$

$9.$Had $$1,900$ of supplies on hand at the end of the accounting period.

Events Affecting the Year $2$ Accounting Period

$1.$Acquired $$37,000$ cash from the issue of common stock.

$2.$Paid $$4,900$ cash to settle the salaries payable obligation.

$3.$Paid $$8,700$ cash in advance to lease office space.

$4.$Sold the land that cost $$52,000$ for $$52,000$ cash.

$5.$Received $$9,900$ cash in advance for services to be performed in the future.

$6.$Purchased $$2,700$ of supplies on account during the year.

$7.$Provided services on account of $$49,000.$

$8.$Collected $$50,000$ cash from accounts receivable.

$9.$Paid a cash dividend of $$9,000$ to the stockholders.

$10.$Paid other operating expenses of $$36,500.$

Information for Year $2$ Adjusting Entries

$11.$The advance payment for rental of the office space $($see Event $3)$ was made on March $1$ for a one$-$year term.

$12.$The cash advance for services to be provided in the future was collected on October $1($see Event $5).$ The one$-$year contract started on October $1.$

$13.$Had $$2,000$ of supplies remaining on hand at the end of the period.

$14.$Recognized accrued salaries of $$5,600$ at the end of the accounting period.

$15.$Recognized $$2,100$ of accrued interest revenue