The following transactions pertain to Smith Training Company for Year 1: January 30 Established the business when it acquired $47,000 cash from the issue of common stock. February 1 Paid rent for office space for two years, $33,000 cash. April 10 Purchased $820 of supplies on account. July 1 Received $22,000 cash in advance for services to be provided over the next year. July20August15Paid$615oftheaccountspayablefromApril10.Billedacustomer$9,800forservicesprovidedduringAugust. September 15 completed a job and received $3,000 cash for services rendered. october 1 Paid employee salaries of $30,000 cash. october 15 Received $7,800 cash from accounts receivable. November 16 Billed customers $32,000 for services rendered on account. December 1 Paid a dividend of $1,300 cash to the stockholders. December 31 Adjusted records to recognize the services provided on the contract of July 1. December 31 Recorded $2,000 of accrued salaries as of December 31 . December 31 Recorded the rent expense for the year. (See February 1.) December 31 Physically counted supplies; \$120 was on hand at the end of the period. e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to the T-acc Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet The following transactions pertain to Smith Training Company for Year 1 : e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and pi Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account fi Journal entry worksheet Record the closure of expense accounts. Note: Enter debits before credits. The following transactions pertain to Smith Training Company for Year 1: January 30 Established the business when it acquired $47,000 cash from the issue of common stc February 1 Paid rent for office space for two years, $33,000 cash. April 10 Purchased $820 of supplies on account. July 1 Received $22,000 cash in advance for services to be provided over the next year. July 20 Paid $615 of the accounts payable from April 10. August 15 Billed a customer $9,800 for services provided during Auqust. September 15 Completed a job and received $3,000 cash for services rendered. October 1 Paid employee salaries of $30,000 cash. October 15 Received $7,800 cash from accounts receivable. November 16 Billed customers $32,000 for services rendered on account. December 1 Paid a dividend of $1,300 cash to the stockholders. December 31 Adjusted records to recognize the services provided on the contract of July 1. December 31 Recorded $2,000 of accrued salaries as of December 31 . December 31 Recorded the rent expense for the year. (See February 1..). December 31 physicaly counted supplies; $120 was on hand at the end of the period. e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to th Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the closure of the dividends account. Note: Enter debits before credits. The following transactions pertain to Smith Training Company for Year 1 : f. Prepare a post-closing trial balance for Year 1
