Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to the T-accounts.

Required information [The following information applies to the questions displayed below) Colton Enterprises experienced the following events for Year 1, the first year of operation 1. Acquired $46,000 cash from the issue of common stock 2. Paid $13,100 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 $94.000 4. Incurred operating expenses on account of $40,500 5. Collected $72.000 cash from accounts receivable 6. Paid $32,000 cash for salary expense. 7. Paid $32.400 cash as a partial payment on accounts payable Adjusting Entries 8. Made the adjusting entry for the expired rent (See Event 2.) 9. Recorded $4,600 of accrued salaries at the end of Year 1 Events for Year 2 1. Poid $4,600 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $43,000 3. Purchased $3.900 of supplies on account 4. Paid $13,800 cash in advance for rent. The payment was for one year beginning April 1. Year 2 5. Performed services for customers on account for $110,000 6. Incurred operating expenses on account of $52,500 7. Collected $100,000 cash from accounts receivable. 8. Poid 550,000 cash as a partial payment on accounts payable 9. Paid $32,600 cash for salary expense 10. Paid o $14,000 cosh dividend to stockholders Adjusting Entries 11. Mode 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 $450 of supplies were still on bond e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general Journal and post to the T-accounts of no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required information Cash Accounts Receivable Beg Bal Beg Bat 7 End Bal End. Bal Prepaid Rent Accounts Payable Beg Bal Beg Bal End. Bal End. Bal Salaries Payable Common Stock Beg Bal Beg Bal + End. Bai End Bal Retained Earnings Service Revenue Beg. Bal Beg Bal End Bal End. Bal Operating Expenses Rent Expense Beg Bal Beg Bat End Ball End Bal Salaries Expense Beg. Bal 6 19 End. Bal