It's not 22,000

Required information [The following information applies to the questions displayed below.] The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $47,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $15,500 cash. Apr. 10 Purchased $790 of supplies on account. July 1 Received $22,000 cash in advance for services to be provided over the next year. 20 Paid $593 of the accounts payable from April 10. Aug. 15 Billed a customer $9,600 for services provided during August. Sept. 15 Completed a job and received $3,000 cash for services rendered. Oct. 1 Paid employee salaries of $37,500 cash. 15 Received $8,900 cash from accounts receivable. Nov. 16 Billed customers $38,500 for services rendered on account. Dec. 1 Paid a dividend of $1,200 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,500 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $120 was on hand at the end of the period. 10 Nov 16 Accounts receivable