Events for Year $2$

Paid $$3,000$ cash for the salaries accrued at the end of the prior accounting period.

Performed services for cash of $$27,000.$

Purchased $$3,100$ of supplies on account.

Paid $$11,400$ cash in advance for rent. The payment was for one year beginning April $1,$ Year $2.$

Performed services for customers on account for $$94,000.$

Incurred operating expenses on account of $$44,500.$

Collected $$92,000$ cash from accounts receivable.

Paid $$42,000$ cash as a partial payment on accounts payable.

Paid $$31,800$ cash for salary expense.

Paid a $$12,000$ 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. Create T accounts