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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

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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 following account balances: Accounts Debit Credit Cash $ 25,380 Accounts Receivable 6,7ee Supplies 4,6ee Land 65,000 Accounts Payable $ 4,780 Common Stock 89,080 Retained Earnings 16,980 Totals $191,600 $191,680 During Year 1. the following transactions occur. January 2 Purchase rental space for one year in advance, $10,50($875/month). January 9 Purchase additional supplies on account, $5,eee. 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 2e Pay cash for salaries, $13,88e. January 22 Receive cash on accounts receivable, $25,680. January 29 Pay cash on accounts payable, $5,580. Exercise 3-21B Part 3 3. Prepare an adjusted trial balance as of January 31, Year 1. Adjusted Trial Balance January 31, Year 1 Debit Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Prepaid Rent Rent Expense Service Revenue Deferred Revenue Salaries Expense Totals $ $

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