The general ledger of Pipers Plumbing at January 1, 2024, includes the following account balances:

Accounts	Debits	Credits
Cash	$4,500
Accounts Receivable	9,500
Supplies	3,500
Equipment	36,000
Accumulated Depreciation		$8,000
Accounts Payable		6,000
Utilities Payable		7,000
Deferred Revenue		0
Common Stock		23,000
Retained Earnings		9,500
Totals	$53,500	$53,500

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

1. January 24	Provide plumbing services for cash, $20,000, and on account, $65,000.
2. March 13	Collect on accounts receivable, $53,000.
3. May 6	Issue shares of common stock in exchange for $11,000 cash.
4. June 30	Pay salaries for the current year, $33,000.
5. September 15	Pay utilities of $7,000 from 2023 (prior year).
6. November 24	Receive cash in advance from customers, $10,000.
7. December 30	Pay $3,000 cash dividends to stockholders.

Required:

2. Record each of the summary transactions listed above.

4. Prepare an unadjusted trial balance.

5. Record adjusting entries. Depreciation for the year on the machinery is $8,000. Plumbing supplies remaining on hand at the end of the year equal $1,100. Of the $10,000 paid in advance by customers, $7,000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $6,000.

7. Prepare an adjusted trial balance.

8-a. Prepare the income statement for the year ended December 31, 2024.

8-b. Prepare the classified balance sheet for the year ended December 31, 2024.

9. Record closing entries.

1., 3., 6., & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances.

11. Prepare a post-closing trial balance.