ok Int rences The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 9, had the following normal balances. Cash Petty cash Accounts receivable Allowance for doubtful accounts Supplies Prepaid rent Merchandise inventory (23 @ $288) Equipment Van Accumulated depreciation Salaries payable Common stock Retained earnings $ 93,380 100 21,390 2,485 188 3,000 6,440 9,000 27,000 14,900 1,500 50,000 91,605 During Year 9, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 8. 2. Paid $9,000 on May 2, Year 9, for one year's office rent in advance. 3. Purchased $425 of supplies on account. 4. Purchased 145 alarm systems at a cost of $290 each. Paid cash for the purchase. 5. After numerous attempts to collect from customers, wrote off $2.060 of uncollectible accounts receivable. 6. Sold 130 alarm systems for $580 each plus sales tax of 5 percent. All sales were on account. 7. Record cost of good sold for the sales transaction mentioned in previous transaction (number 6). Be sure to compute sold using the FIFO cost flow method. 8. Billed $107,000 of monitoring services for the year. Credit card sales amounted to $42,000, and the credit card comp 4 percent fee. The remaining $65,000 were sales on account. Sales tax is not charged on this service. 9. Replenished the petty cash fund on June 30. The fund had $5 cash and has receipts of $60 for yard mowing, $15 for supplies expense, and $17 for miscellaneous expenses. 10. Collected the amount due from the credit card company. 11. Paid the sales tax collected on $69,600 of the alarm sales. 12. Paid installers and other employees a total of $65,000 for salaries for the year. Assume the Social Security tax rate is the Medicare tax rate is 1.5 percent. Federal income taxes withheld amounted to $7.500. Cash was paid for the net art salaries due. 13. Pacilio now offers a one-year warranty on its alarm systems. Paid $1,950 in warranty repairs during the year. 14. On September 1, borrowed $12,000 from State Bank. The note had an 8 percent interest rate and a one-year term to m 15. Collected $136,100 of accounts receivable during the year. 16. Paid $15,000 of advertising expense during the year. 17. Paid $7,200 of utilities expense for the year. 18. Paid the payroll taxes, both the amounts withheld from the salaries plus the employer share of Social Security tax and on $60,000 of the salaries plus $7,000 of the federal income tax that was withheld. (Unemployment taxes were not pa time.) 19. Paid the accounts payable. 20. Paid a dividend of $10,000 to the shareholders.