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

Accounts Debits Credits

Cash $ $3,700$

Accounts Receivable $8,700$

Supplies $2,700$

Equipment $20,000$

Accumulated Depreciation $ $4,800$

Accounts Payable $2,800$

Utilities Payable $3,800$

Deferred Revenue $0$

Common Stock $15,000$

Retained Earnings $8,700$

Totals $ $35,100$ $ $35,100$

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

$1.$ January $24$ Provide plumbing services for cash, $$12,000,$ and on account, $$57,000.$

$2.$ March $13$ Collect on accounts receivable, $$45,000.$

$3.$ May $6$ Issue shares of common stock in exchange for $$11,000$ cash.

$4.$ June $30$ Pay salaries for the current year, $$31,400.$

$5.$ September $15$ Pay utilities of $$3,800$ from $2024($prior year$).$

$6.$ November $24$ Receive cash in advance from customers, $$6,800.$

$7.$ December $30$ Pay $$1,400$ cash dividends to stockholders.

The following information is available for the adjusting entries.

Depreciation for the year on the machinery is $$4,800.$ Plumbing supplies remaining on hand at the end of the year equal $$1,100.$ Of the $$6,800$ paid in advance by customers, $$5,400$ of the work has been completed by the end of the year. Accrued utilities at year$-$end amounted to $$7,600.$