The following transactions pertain to Price Corporation for 20xx:

Jan. 1	Acquired $25,000 cash from the issuance of common stock.
Mar. 1	Paid rent for office space for two years, $8,400 cash.
Apr. 14	Purchased $400 of supplies on account.
June 30	Received $12,000 cash in advance for services to be performed over the next year
July 5	Paid $300 of the accounts payable from April 14th
Aug. 1	Billed a customer for $24,800 of services provided during July.
Sept. 1	Paid employees salaries of $18,000 cash.
Sept. 9	Received $4,250 cash from accounts receivable.
Nov. 2	Paid a $500 cash dividend to the stockholders.
Dec 31	Adjusted records to recognize the services provided on the contract of June 30.
Dec 31	Recorded $1,100 of accrued salaries as of December 31st.
Dec 31	Recorded the rent expense for the year. (See March 1)
Dec 31	Physically counted supplies; $50 on hand at the end of the year.

Record the preceding transactions in the general journal. Post the transactions to the T-accounts. Prepare a trial balance.

Prepare closing entries and post them to the T-accounts.

Prepare a trial balance after closing. (Post Closing Trial Balance)

Using Microsoft Excel

Template:

Date	Account				Dr	Cr
1-Jan	Cash				25000
		Common Stock				25000