The trial balance of Pacilio Security Services, Inc. as of January 1 Year 5, had the following normal balances: 162,860 20.500 150 Cash Meenunt receivable Supplies Prepaid rent Merchandise inventory (240) Land Na payable talari payable Con tok Katained earning 2,000 2.166 4.000 980 1,500 50.000 39,190 During Year 5. Pacilio Security Services experienced the following transaction: 1. Paid the salaries payable from Year 4. 2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250 each 3. On February 1 paid the accounts payable of $980, but not within the discount period. (The company uses the gross method) 4. On March 1, leased a business van Paid $4800 for one year's lease in advance. 5. Paid $7.200 on May 1 for one year's rent on the office in advance 6. Purchased with cash $500 of supplies to be used over the next several months by the business. 7. Purchased with cash another 25 alarm systems on August 1 for resale at a cost of $260 each 8. On September 5. purchased on account 30 standard alarm systems at a cost of $265 9. Installed 60 standard alarm systems for $33,000 Sales of $22.000 were on account, while $11.000 were cash sales. 10. Record the cost of goods sold related to the sale from Event 9 using the perpetual FIFO method 11. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of revenue 12. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of cost 13. Paid installers and other employees a total of $21000 cash for salaries. 14. Sold $45,000 of monitoring services during the year. The services are billed to the customers each month 15. Sold an additional monitoring service for $1.200 for one year's service. The customer paid the full amount of $1.200 on October 16. Collected $74,000 of accounts receivable during the year 17. Pald an additional $6,000 to settle some of the accounts payable 18. Pald $3,500 of advertising expense during the year Adjustments 21. There was $200 of supplies on hand at the end of the year, 22. Recognized the expired rent from the prior year, van and office building for the year. 23. Recognized the revenue earned from transaction 15 24. Accrued salaries at December 31 Year 5, were $1,000. General Requirement General Income Trial Balance Changes in Balance Journal Statement Ledger Statement SE Analysis Sheet of a Prepare the journal entries to record transactions (1) through (20). Then prepare the necessary adjusting entries (21) through (24) to correctly report net income for the period. Then record the closing entries (25) through (27) as of December 31, Year 5. (If no entry is required for a transaction, select "No journal entry required in the first account field.) View transaction list View Joumal entry worksheet No Date General Journal Dobit Credit Jan 01 62.800 Cash Accounts receivable 62 860 The trial balance of Pacilio Security Services, Inc. as of January 1. Year 5, had the following normal balances: Cash Accounts receivable Supplies Prepaid rent Merchandise inventory (9 @ $240) Land Accounts payable Salaries payable Common stock Retained earnings $62,860 20,500 150 2,000 2,160 4,000 980 1,500 50,000 39,190 During Year 5, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 4. 2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250 each. 3. On February 1, paid the accounts payable of $980, but not within the discount period (The company uses the gross method.) 4. On March 1, leased a business van, Paid $4,800 for one year's lease in advance. 5. Paid $7.200 on May 1 for one year's rent on the office in advance. 6. Purchased with cash $500 of supplies to be used over the next several months by the business. 7. Purchased with cash another 25 alarm systems on August 1 for resale at a cost of $260 each 8. On September 5, purchased on account 30 standard alarm systems at a cost of $265. 9. Installed 60 standard alarm systems for $33,000. Sales of $22,000 were on account while $11,000 were cash sales. 10. Record the cost of goods sold related to the sale from Event 9 using the perpetual FIFO method 11. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of revenue. 12. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of cost. 13. Paid Installers and other employees a total of $21.000 cash for salaries. 14. Sold $45,000 of monitoring services during the year. The services are billed to the customers each month. 15. Sold an additional monitoring service for $1.200 for one year's service. The customer paid the full amount of $1,200 on October 1, 16. Collected $74,000 of accounts receivable during the year. 17. Paid an additional $6,000 to settle some of the accounts payable. 18. Paid $3,500 of advertising expense during the year