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Required Information Exercise 3-21B Complete the accounting cycle (LO3-3, 3-4, 3-5, 3-6) On January 1. Year 1. the general ledger of a company includes the
Required Information Exercise 3-21B Complete the accounting cycle (LO3-3, 3-4, 3-5, 3-6) On January 1. Year 1. the general ledger of a company includes the following account balances: Accounts Debit Credit Cash $ 25,388 Accounts Receivable 6,780 Supplies 4,600 Land 65,000 Accounts Payable $ 4,780 Common Stock 89,000 Retained Earnings 16,990 Totals $191,680 $191,680 During Year 1, the following transactions occur. January 2 Purchase rental space for one year in advance, $19,500 ($875/month). January 9 Purchase additional supplies on account, $5,88e. January 13 Provide services to customers on account, $27,eee. January 17 Receive cash in advance from customers for services to be provided in the future, $5,200. January 20 Pay cash for salaries, $13,000. January 22 Receive cash on accounts receivable, $25,680. January 29 Pay cash on accounts payable, $5,580. Exercise 3-218 Part 3 3. Prepare an adjusted trial balance as of January 31. Year 1. Adjusted Trial Balance January 31, Year 1 Debit Accounts Credit Totals $ 0 S
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