[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 $52,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $16,900 cash. Apr. 10 Purchased $790 of supplies on account. July 1 Received $29,500 cash in advance for services to be provided over the next year. 20 Paid $593 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 $3,000 cash for services rendered. Oct. 1 Paid employee salaries of $31,000 cash. 15 Received $8,800 cash from accounts receivable. Nov. 16 Billed customers $38,500 for services rendered on account. Dec. 1 Paid a dividend of $1,200 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,300 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $120 was on hand at the end of the period.

a. Record the preceding transactions in the general journal, in the given order.

b. Post the transactions to T-accounts and calculate the account balances

c. Prepare a trial balance.

d. Prepare the income statement, statement of changes in stockholders equity, balance sheet, and statement of cash flows for Year 1.

e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to the T-accounts.

f. Prepare a post-closing trial balance for Year 1.