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The following transactions pertain to Smith Training Company for Year 1:

Jan.	30		Established the business when it acquired $54,000 cash from the issue of common stock.
Feb.	1		Paid rent for office space for two years, $30,000 cash.
Apr.	10		Purchased $750 of supplies on account.
July	1		Received $21,000 cash in advance for services to be provided over the next year.
	20		Paid $563 of the accounts payable from April 10.
Aug.	15		Billed a customer $9,100 for services provided during August.
Sept.	15		Completed a job and received $2,800 cash for services rendered.
Oct.	1		Paid employee salaries of $30,500 cash.
	15		Received $7,800 cash from accounts receivable.
Nov.	16		Billed customers $33,500 for services rendered on account.
Dec.	1		Paid a dividend of $700 cash to the stockholders.
	31		Adjusted records to recognize the services provided on the contract of July 1.
	31		Recorded $2,050 of accrued salaries as of December 31.
	31		Recorded the rent expense for the year. (See February 1.)
	31		Physically counted supplies; $60 was on hand at the end of the period.

b. Post the transactions to T-accounts and calculate the account balances.

Cash Beg. Bal. End. Bal. Prepaid Rent Beg. Bal. End. Bal. Accounts Payable Beg. Bal. End. Bal. Beg. Bal. 0 0 0 Salaries Payable Beg. Bal. Accounts Receivable End. Bal. 0 0 Supplies Beg. Bal. End. Bal, Unearned Revenue Beg. Bal. Common Stock Beg. Bal. End. Bal. 0 0 End. Bal. Dividends Beg. Bal. End. Bal. 0 0 Service Revenue Beg. Bal. End. Bal. Rent Expense Salaries Expense Beg. Bal. Beg. Bal. End. Bal. Supplies Expense Beg. Bal. End. Bal. 0 0 0 0 0 End. Bal. 0 0