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 $55,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $15,800 cash. Apr. 10 Purchased $800 of supplies on account. July 1 Received $26,500 cash in advance for services to be provided over the next year. 20 Paid $600 of the accounts payable from April 10. Aug. 15 Billed a customer $10,300 for services provided during August. Sept. 15 Completed a job and received $3,000 cash for services rendered. Oct. 1 Paid employee salaries of $30,000 cash. 15 Received $9,300 cash from accounts receivable. Nov. 16 Billed customers $36,500 for services rendered on account. Dec. 1 Paid a dividend of $1,000 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,300 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $120 was on hand at the end of the period. Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Prepaid Rent Supplies Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Accounts Payable Unearned Revenue Beg. Bal. Beg. Bal. End. Bal. 0 0 Salaries Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. 0 0 End. Bal. 0 Dividends Service Revenue Beg. Bal. Beg. Bal. End. Bal. 0 0 Dividends Service Revenue Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Rent Expense Salaries Expense Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 0 Supplies Expense Beg. Bal. End. Bal. 0 0