[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, $27,000 cash. Apr. 10 Purchased $870 of supplies on account. July 1 Received $24,000 cash in advance for services to be provided over the next year. 20 Paid $653 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 $2,900 cash for services rendered. Oct. 1 Paid employee salaries of $37,000 cash. 15 Received $7,500 cash from accounts receivable. Nov. 16 Billed customers $36,500 for services rendered on account. Dec. 1 Paid a dividend of $1,000 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,100 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $90 was on hand at the end of the period. Journal entry worksheet e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to th no entry is required for a transaction/event, select "No Journal entry required" In the first account field.) View transaction list Journal entry worksheet