The following is a summary of the transactions for the year: a. Service revenue, $136,000, of which $40,800 was on account and the balance was received in cash. b. Collected on accounts receivable, $27,100. c. Issued shares of common stock in exchange for $16,500 in cash. d. Pald salaries, $49,750 (of which $10,250 was for salaries payable at the end of the prior year). e. Pald miscellaneous expense for various items, $26,800. f. Purchased equipment for $19,000 in cash. g. Paid $3,300 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $995. 2. Depreciation for the year on the equipment is $3,200. Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts, 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7.b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Reg 2 5 and 8 Reg 3 Reg 4 Req6 Req 7A Req 7B Req9 Prepare the summary, adjusting and closing entries for each of the transactions listed. (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 6 7 8 9 10 12 Record the entry to close the revenue accounts using the retained earnings account. Prev 1 of 1 Next The following is a summary of the transactions for the year: a. Service revenue, $136,000, of which $40,800 was on account and the balance was received in cash. b. Collected on accounts receivable, $27,100. c. Issued shares of common stock in exchange for $16,500 in cash. d. Pald salaries, $49,750 (of which $10,250 was for salaries payable at the end of the prior year). e. Pald miscellaneous expense for various items, $26,800. f. Purchased equipment for $19,000 in cash. g. Paid $3,300 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $995. 2. Depreciation for the year on the equipment is $3,200. Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts, 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7.b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance. Complete this question by entering your answers in the tabs below. Reg 2 5 and 8 Reg 3 Reg 4 Req6 Req 7A Req 7B Req9 Prepare the summary, adjusting and closing entries for each of the transactions listed. (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 6 7 8 9 10 12 Record the entry to close the revenue accounts using the retained earnings account. Prev 1 of 1 Next