Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below.] The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $18,000, and on account, $63,000. 2. March 13 collect on accounts receivable, $1,000. 3. May 6 Isaue shares of cosmon stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $32,600. 5. September 15 pay utilition of $6,200 froes 2020 (prior year). 6. November 24 Recelve cash in advance from customers, 59,200 . 7. December 30 pay $2,600 cash dividends to utockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $7,200. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $9,200 paid in advance by customers, $6,600 of the work has been completed by the end of the year: Accrued utilities at veat-end amounted to $6.400. (1) Required information \begin{tabular}{|l|l|} \hline \multicolumn{2}{|c|}{ PIPERS PLUMBING } \\ \hline \multicolumn{1}{|c|}{ Adjusted Trial Balance } \\ \hline \end{tabular} Prev 567 Next