Problem 3-8B (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Copper Plumbing at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing servicen for cash, $13,500, and on account, $58,500, 2. March 13 Collect on accounte receivable, $46,500. 3. May 6 Issue shares of common stock in exchange for $11,000 cash. 4. June 30 pay salaries for the current year, $31,700. 5. Septenber 25 pay utilities of $4,400 trom 2023 (prior year). 6. November 24 Receive cash in advance from customers, 57,400 . 7. December 30 pay $1,700 eash dividends to stockholdern. Required: 2. Record each of the summary transactions listed above. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Depreciation for the year on the machinery is $5,400. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $7,400 paid in advance by customers, $5,700 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,300. 7. Prepare an adjusted trial balance. 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. 9. Record closing entries. 1., 3., 6 , &10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. 11. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 567 Provide plumbing services for cash, $13,500, and on account, $58,500. Notet Enter debils before credits. Complete this question by entering your answers in the tabs below. Prepare an unadjusted trial balance. Complete this question by entering your answers in the tabs below. Record adjusting entries. Depreciation for the year on the machinery is $5,400. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $7,400 paid in advance by customers, $5,700 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,300. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 4 Record the adjusting entry for depreciation, $5,400. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare an adjusted trial balance. Complete this question by entering your answers in the tabs below. Prepare the income statement for the year ended December 31,2024. Complete this question by entering your answers in the tabs below. Prepare the classified balance sheet for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) Complete this question by entering your answers in the tabs below. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare a post-closing trial balance. Problem 3-8B (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Copper Plumbing at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing servicen for cash, $13,500, and on account, $58,500, 2. March 13 Collect on accounte receivable, $46,500. 3. May 6 Issue shares of common stock in exchange for $11,000 cash. 4. June 30 pay salaries for the current year, $31,700. 5. Septenber 25 pay utilities of $4,400 trom 2023 (prior year). 6. November 24 Receive cash in advance from customers, 57,400 . 7. December 30 pay $1,700 eash dividends to stockholdern. Required: 2. Record each of the summary transactions listed above. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Depreciation for the year on the machinery is $5,400. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $7,400 paid in advance by customers, $5,700 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,300. 7. Prepare an adjusted trial balance. 8-a. Prepare the income statement for the year ended December 31, 2024. 8-b. Prepare the classified balance sheet for the year ended December 31, 2024. 9. Record closing entries. 1., 3., 6 , &10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. 11. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Record each of the summary transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 567 Provide plumbing services for cash, $13,500, and on account, $58,500. Notet Enter debils before credits. Complete this question by entering your answers in the tabs below. Prepare an unadjusted trial balance. Complete this question by entering your answers in the tabs below. Record adjusting entries. Depreciation for the year on the machinery is $5,400. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $7,400 paid in advance by customers, $5,700 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,300. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 4 Record the adjusting entry for depreciation, $5,400. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare an adjusted trial balance. Complete this question by entering your answers in the tabs below. Prepare the income statement for the year ended December 31,2024. Complete this question by entering your answers in the tabs below. Prepare the classified balance sheet for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) Complete this question by entering your answers in the tabs below. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare a post-closing trial balance