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 $51,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $17, 200 cash. Apr. 10 Purchased $890 of supplies on account. July 1 Received $21,000 cash in advance for services to be provided over the next year. 20 Paid $668 of the accounts payable from April 10. 15 Billed a customer $10,200 for services provided during Aug. August. 15 Completed a job and received $3,100 cash for services Sept. rendered. Oct. 1 Paid employee salaries of $37,500 cash. 15 Received $7,700 cash from accounts receivable. 16 Billed customers $36,000 for services rendered on Nov. account. Dec. 1 Paid a dividend of $500 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. 1 8 9 10 11 12 13 15 Adjusted records to recognize the services provided on the contract of July 1. Note: Enter debits before credits 16 Debit General Journal Date Credit 21,000 Dec 31 Unearned revenue Service revenue 21,000 Record entry Clear entry View general Journal 1 8 9 10 11 12 13 15 II... Recorded $2,050 of accrued salaries as of December 31. Note: Enter debits before credits. Debit General Journal Date Credit 2,050 Dec 31 Salaries expense Salaries payable 2,050 Record entry Clear entry View general journal Recorded the rent expense for the year. (See February 1.) Note: Enter debits before credits. Debit Credit Date General Journal 8,600 Dec 31 Rent expense 8,600 Prepaid rent View general journal Clear entry Record entry Physically counted supplies; $60 was on hand at the end of the period. Note: Enter debits before credits. Debit Credit Date General Journal 60 Dec 31 Accounts payable Accounts receivable 60 View general Journal Clear entry Record entry