! Required information [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 $47,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $27.000 cash. Apr. 10 Purchased $760 of supplies on account. July 1 Received $27,000 cash in advance for services to be provided over the next year. 20 Paid $570 of the accounts payable from April 10. Aug. 15 Billed a customer $9,700 for services provided during August. Sept. 15 Completed a job and received $3,400 cash for services rendered. Oct. 1 Paid employee salaries of $37,000 cash. 15 Received $9,400 cash from accounts receivable. Nov. 16 Billed customers $33,500 for services rendered on account. Dec. 1 Paid a dividend of $900 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,000 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies $70 was on hand at the end of the period. f. Prepare a post-closing trial balance for Year 1. SMITH TRAINING COMPANY Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Totals $ 0 $ 0 The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $47,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years. $27,000 cash. Apr. 10 Purchased $760 of supplies on account. July 1 Received $27,000 cash in advance for services to be provided over the next year. 20 Paid $570 of the accounts payable from April 10. Aug. 15 Billed a customer $9,700 for services provided during August. Sept. 15 Completed a job and received $3,400 cash for services rendered. Oet. 1 Paid employee salaries of $37,000 cash. 15 Received $9.400 cash from accounts receivable. Nov. 16 Billed customers $33,500 for services rendered on account. Dec. 1 Paid a dividend of $900 cash to the stockholders. 01 Adjonted records to recognize the services provided on the contract of July 1. 31 Recorded $2,000 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See Yebruary 1.) 31 Physically counted supplies; $70 was on hand at the end of the period. e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to the T-accounts. (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the closure of service revenue, Note: Enter debits before credits Date General Journal Dec 31 Service revenue Credit Debit 60,100 60,100 Record entry Clear entry View general Journal Required information Dec 31 Service Venue 10.10 0.100 Record Clear entry View Cash Bing Bega 1 Ende Prepaidant 1. Bag Endal Enda med Accounts Payable Bag Bega Endal En el Balaria hayile Beg B Beg End Ent Ratained Earnings 900 ol Bag Bago End, 7.135 Einde Service te te Betal 12 17.00 2000 2.000 Ranta the Bal 110 Ende End