The following transactions pertain to Smith Training Company for Year 1: January 30 February 1 April 10 September 15 Established the business when it acquired $52,000 cash from the issue of common stock. Paid rent for office space for two years, $27,000 cash. Purchased $870 of supplies on account. Received $21,500 cash in advance for services to be provided over the next year. Paid $653 of the accounts payable from April 10. Billed a customer $10,000 for services provided during August. Completed a job and received $3,300 cash for services rendered. Paid employee salaries of $37,000 cash. Received $8,500 cash from accounts receivable. July 1 July 20 August 15 October 1 October 15 November 16 December 1 December 31 December 31 December 31 December 31 Recorded the rent expense for the year. (See February 1.) Billed customers $34,000 for services rendered on account. Paid a dividend of $1,500 cash to the stockholders. Adjusted records to recognize the services provided on the contract of July 1. Recorded $2,100 of accrued salaries as of December 31. Physically counted supplies; $110 was on hand at the end of the period. c. Prepare a trial balance. SMITH TRAINING COMPANY Trial Balance December 31, Year 1 Account Titles Cash Common stock Rent expense Prepaid rent Service revenue Debit Credit