Smart Touch Learning began operations by receiving $21,700 cash and furniture of a fair value of $13,600 from James Smith. The business issued Smith shares of common stock in exchange for this contribution Date Accounts Debit Credit 1 Paid $1,400 cash for a four-month insurance policy on December 1. The policy begins December 1. Date Accounts Debit Credit Paid $540 cash for office supplies on December 4. Update is ready to be Date Accounts Debit Credit Performed services for a customer and received $3,500 cash on December 12. Date Accounts Debit Credit Completed a large job, billed the customer $3,600 on December 15. Date Accounts Debit Credit concus On December 18, paid employee salary, $3,700. Date Accounts Debit Credit Received $16,900 cash for performing services on December 20. Date Accounts Debit Credit Collected 54,900 on December 22 in advance for a service to be performed later. Date Accounts Debit Credit On December 25, collected $3,600 cash from customer on account for the services performed on December 15. Date Accounts Debit Credit On December 27, received a $370 utility bill to be paid at a later time. Date Accounts Debit Credit On December 28, performed services on account, $700. Date Accounts Debit Credit Copyright o 2021 Pearson Education Inc. All rights reserved. Terms of Use Privacy Policy. Permissions Contact Us On December 28, paid office rent, $2,600. Date Accounts Debit Credit Paid $370 on account on December 29 Date Accounts Debit Credit Dec 1