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Check my work Accounts receivable Supplies Prepaid rent Merchandise inventory (9 @ $240) Land Accounts payable Salaries payable Common stock Retained earnings 20,500 150 2,000 2,160 4,000 980 1,500 50,000 39,190 During Year 5, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 4. 2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250 each. 3. On February 1, paid the accounts payable of $980, but not within the discount period. (The company uses the gross method.) 4. On March 1, leased a business van. Paid $4,800 for one year's lease in advance. 5. Paid $7,200 on May 1 for one year's rent on the office in advance. 6. Purchased with cash $500 of supplies to be used over the next several months by the business. 7. Purchased with cash another 25 alarm systems on August 1 for resale at a cost of $260 each. 8. On September 5, purchased on account 30 standard alarm systems at a cost of $265. 9. Installed 60 standard alarm systems for $33,000. Sales of $22,000 were on account, while $11,000 were cash sales. 10. Record the cost of goods sold related to the sale from Event 9 using the perpetual FIFO method. 11. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of revenue. 12. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of cost. 13. Paid installers and other emplovees a total of $21.000 cash for salaries.