Record cash paid for salaries accrued at the end of the prior accounting period.

Record cash received for services performed.

Record supplies purchase on account.

Record cash paid in advance for rent.

Record services performed on account.

Record operating expenses incurred on account.

Record entry for cash collected from accounts Receivable.

Record cash paid for partial payment on accounts payable.

Record cash paid for salary expenses.

Record entry for cash dividend to stockholders.

Record adjusting entry for expired rent.

Record adjusting entry for supplies expenses.

Colton Enterprises experienced the following events for Year 1, the first year of operation: 1. Acquired $36,000 cash from the issue of common stock. 2. Paid $12,100 cash in advance for rent. The payment was for the period April 1, Year 1, to March 31, Year 2. 3. Performed services for customers on account for $74,000. 4. Incurred operating expenses on account of $35,500. 5. Collected $57,000 cash from accounts receivable. 6. Paid $22,000 cash for salary expense. 7. Paid $28,400 cash as a partial payment on accounts payable. Adjusting Entries 8. Made the adjusting entry for the expired rent. (See Event 2.) 9. Recorded $2,600 of accrued salaries at the end of Year 1. Events for Year 2 1. Paid $2,600 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $23,000. 3. Purchased $2,900 of supplies on account. 4. Paid $10,800 cash in advance for rent. The payment was for one year beginning April 1, Year 2. 5. Performed services for customers on account for $90,000. 6. Incurred operating expenses on account of $42,500. 7. Collected $90,000 cash from accounts receivable. 8. Paid $40,000 cash as a partial payment on accounts payable. 9. Paid $31,600 cash for salary expense. 10. Paid a $10,000 cash dividend to stockholders. Adjusting Entries 11. Made the adjusting entry for the expired rent. (Hint: Part of the rent was paid in Year 1.) 12. Recorded supplies expense. A physical count showed that $500 of supplies were still on hand