The following transactions pertain to Smith Training Company for Year 1: 30 Established the business when it acquired Jan. $49,000 cash from the issue of common stock. 1 Paid rent for office space for two years, Feb. $36,000 cash. Apr. 10 Purchased $770 of supplies on account. 1 Received $27,000 cash in advance for July services to be provided over the next year. 20 Paid $578 of the accounts payable from April 10. 15 Billed a customer $9,700 for services Aug provided during August. 15 Completed a job and received $2,500 cash for Sept. services rendered. Oct. 1 Paid employee salaries of $31,000 cash. 15 Received $8,000 cash from accounts receivable. 16 Billed customers $34,000 for services Nov. rendered on account. 1 Paid a dividend of $700 cash to the Dec. stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,200 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $130 was on hand at the end of the period. repare a post-closing trial balance for Year 1. f. Prepare a post-closing trial balance for Year 1. SMITH TRAINING COMPANY Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Totals $ 0 $ 0