Required information Problem 3-32A Comprehensive problem: single cycle LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.] The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $45,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $24,000 cash. Apr. 10 Purchased $3,200 of supplies on account. July 1 Received $24,000 cash in advance for services to be provided over the next year. 20 Paid $1,500 of the accounts payable from April 10. Aug. 15 Billed a customer $18,000 for services provided during August. Sept.15 Completed a job and received $8,400 cash for services rendered. Oct. 1 Paid employee salaries of $12,000 cash. 15 Received $15,000 cash from accounts receivable. Nov. 16 Billed customers $42,000 for services rendered on account. Dec. 1 Paid a dividend of $15,000 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $3,600 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $280 was on hand at the end of the period. Balance before closing End. Bal. Cash Balance before closing End. Bal. Balance before closing End. Bal. Balance before closing End. Bal. Balance before closing End. Bal. Accounts Receivable Prepaid Rent Supplies Balance before closing End. Bal. Accounts Payable Unearned Revenue Balance before closing End. Bal. Salaries Payable Common Stock Balance before using End. Bal. End. Bal. Retained Earnings Balance before closing CI CI End. Bal. Balance before closing CI End. Bal. Balance before closing End. Bal. End. Bal. Dividends Balance before closing Cl End. Bal. Service Revenue Salaries Expense Balance before closing End. Bal. Rent Expense Supplies Expense Balance before gipsing CI End. Bal. CI