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. 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 < 1 2 3 Record the closure of service revenue. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit