Required Information [The following information applies to the questions displayed below.) Colton Enterprises experienced the following events for Year 1, the first year of operation: 1. Acquired $44,000 cash from the issue of common stock. 2. Paid $12,900 cash in advance for rent. The payment was for the period April 1, Year 1, to March 31, Year 2. 3. Performed services for customers on account for $90,000. 4. Incurred operating expenses on account of $39,500. 5. Collected $69,000 cash from accounts receivable. 6. Paid $30,000 cash for salary expense. 7. Paid $31,600 cash as a partial payment on accounts payable. Adjusting Entries 8. Made the adjusting entry for the expired rent. (See Event 2.) 9. Recorded $4,200 of accrued salaries at the end of Year 1. Journal entry worksheet < 1 2 Record entry to close service revenue. General Journal Debit Credit Note: Enter debits before credits. Date Dec. 31 View general journal Record entry Clear entry > Beg. Bal. End. Bal. Cash Beg. Bal. Accounts Receivable End. Bal. Prepaid Rent Accounts Payable Beg. Bal. Beg.al End. Bal. End. Bal. Salaries Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Service Revenue Beq. Bal. Bea. Bal., Retained Earnings Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Operating Expenses Rent Expense Beg. Bal. Beg. Bal. End. Bal. Salaries Expense Beg. Bal. End. Bal. End. Bal. +