The general ledger of Zips Tutoring Services at December 1, 2018, includes the following account balances Accounts Cash Debits Credits 53,200 15,400 7,000 4,000 48,000 136,000 Accounts Receivable Prepaid Insurance Supplies Land Building Accumulated Depreciation Accounts Payable Deferred Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Depreciation Expense Insurance Expense Property Tax Expense $ 8,000 6,700 13,800 150,000 72,500 2,800 12,360 38,960 2,700 5,000 Totals $294960 $294,960 The following is a summary of the transactions for the year: a. December 12 Collect on accounts receivable, $5,500. c. December 18 Purchase supplies on account, $6,200 d. December 28 Pay on accounts payable, $5,400. d. December 30 Provide tutoring services for cash, S13,100, and on account, $5,200 e. December 31 Pay salaries, $1,600. Required: 1. Record each of the summary transactions listed above. (10 points) 3. Post the transactions to the accounts. (10 points) 5. Record the adjusting entries. (4 points) A) The annual insurance policy in the amount of $12,000 was purchased on July 1 and has been adjusted through the end of November. B) Supplies remaining on hand at the end of the year equal $2,900. C) $11,800 of the deferred revenue has been earned. D) Depreciation on the building is $300 for December. Post the adjusting entries. (4 points) Complete the income statement (8 points),statement of stockholders' equity (4 points) and balance sheet as of December 31, 2018 (17 points). 6. 8. 9. Record the closing entries (5 points). 10. Post the closing entries (5 points) 11. Complete a post-closing trial balance (9 points)