The following is a summary of the transactions for the year:

$02*25$:$34$

a$.$ Provided services, $$112,000,$ of which $$33,600$ was on account and the balance was received in cash.

b$.$ Collected on accounts receivable, $$23,500.$

c$.$ Issued shares of common stock in exchange for $$10,500$ in cash.

d$.$ Paid salaries, $$40,750($of which $$7,250$ was for salaries payable at the end of the prior year$).$

e$.$ Paid miscellaneous expense for various items, $$22,000.$

f$.$ Purchased equipment for $$12,500$ in cash.

g$.$ Paid $$2,700$ in cash dividends to shareholders.

Additional information:

h$.$ Accrued salaries at year$-$end amounted to $$815.$

i$.$ Depreciation for the year on the equipment is $$2,000.$

Required:

$1$ to $3.$ Prepare a general journal entry for each of the summary transactions listed. Record beginning balances in the T$-$accounts $($on the T$-$accounts tab$).$ Post the journal entries to the T$-$accounts.

$4.$ Using the T$-$account balances, prepare an unadjusted trial balance.

$5.$ Prepare adjusting journal entries using the additional information provided. Post to the $T-$accounts $($on the $T-$accounts tab$).$

$6.$ Using the adjusted T$-$account balances, prepare an adjusted trial balance.

$7-$a$.$ Prepare an income statement for $2024.$

$7-$b$.$ Prepare a balance sheet as of December $31,2024.$

$8.$ Prepare closing entries, and then post to the T$-$accounts $($on the T$-$accounts tab$).$

$9.$ Prepare a post$-$closing trial balance.

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