Kiesn. Trenholm. Trvine, and Rurnley Accounting Cycle Review 4-1 (Part Level Submission) On August 1, 2018, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Tobique Ltd. Accounts payable 52.080 interest Accounts receivable 4.690 Note recibidor October 31, 2018 2.400 Accumulated depreciation-guipment 2.090 Retained earnings 5.480 Salsa 1.320 Common shares 12.900 Solis Equipment 10,400 and revenue LO During August, the following summary transactions were completed. Paid $410 cash for advertising in local newspapers. Advertising flyers will Aug, 1 be included with newspapers delivered during August and September. (Hint: Use the Prepaid Advertising account.) Paid August rent $360. (Hint: Use the Prepaid Rent account.) Received $3,420 cash from customers in payment of accounts. Paid $2,970 for salaries due employees, of which $1,650 is for August and $1,320 is for July salaries payable. 1) Received $3,590 cash for services performed in August. 15 Purchased additional equipment on account $2,000. 17 Paid creditors $2,000 of accounts payable due. 22 Purchased supplies on account $800. 24 Paid salaries $3,110. 27 Performed services worth $4,840 on account and billed customers. >> Received $810 from customers for services to be provided in the future. 31 Declared and paid a $460 dividend. El Your answer is correct. Record the above summary transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) poder C Prepare T accounts, enter any opening balances, post the general journal entries and calculate end balances. (Post entries in the order of journal entries presented in the previous part. If the ending balance is o select Bal for the date and enter for the normal balance for that account.) Cash e. Accounts Receivable Prepaid Advertising Supplies Prepaid Rent Note Receivable Interest Receivable Equipment Accumulated Depreciation - Equipment Accounts Payable Salaries Payable LUS Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kies. Tranholm. Trvine, and Rurnie Prepaid Rent Note Receivable Interest Receivable Equipment Accumulated Depreciation - Equipment Accounts Payable Salaries Payable Unearned Revenue Common Shares Retained Earnings Dividends Declared Service Revenue Salaries Expense