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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

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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: Accounts Debits Credits Cash $ 4,150 Accounts Receivable 9,150 Supplies 3,150 Equipment 29,000 Accumulated Depreciation $ 6,600 Accounts Payable 4,600 Utilities Payable 5,600 Deferred Revenue Common Stock 19,500 Retained Earnings 9,150 Totals $45,450 $45,450 The following is a summary of the transactions for the year: 1. January 24 Provide plumbing services for cash, $16,508, and on account, $61,500. 2. March 13 Collect on accounts receivable, $49,500. 3. May 6 Issue shares of common stock in exchange for $10,000 cash. 4. June 30 Pay salaries for the current year, $32,300. 5. September 15 Pay utilities of $5,600 from 2020 (prior year). 6. November 24 Receive cash in advance from customers, $8,600. 7. December 30 Pay $2,300 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $6,600. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $8,600 paid in advance by customers, $6,300 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,700. 1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. of 8 Cash Accounts Receivable 9,150 Beg. Bal 4,150 Beg Bal Book erint End. Bal 4,150 End. Bal 9,150 reces Supplies 3.150 Equipment 29,000 Beg Bal Beg. Bal End Bal 3,150 End. Bal 29.000 Accumulated Depreciation 6,600 Accounts Payable 4,000 Bog Bal Beg Bal End. Bal 6,600 End, Bal 4,600 Required information 8 Accumulated Depreciation 6,600 Accounts Payablo 4,600 Beg Bal Bog. Bal End. Bal. 6,600 End. Bal. 4,600 Utilities Payable Deferred Revenue Beg. Bal 5,600 Beg. Bal. 0 End. Bal 5,600 End. Bal. 0 Common Stock Retained Earnings Beg Bal 19,500 Beg. Bal 9,150 End. Bal. 19,500 End. Bal. 9,150 Dividends Service Revenue Bog. Bal Beg Bal. Beg Bal. Beg Bal End. Bal. End. Bal. Salaries Expense Utilities Expense Beg. Bal Beg. Bal. End. Bal. End. Bal. Supplies Expense Depreciation Expense Beg. Bat. Beg. Bal End. Bal End. Bal

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