The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 7, had the following normal balances: During Year 7, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 6. 2. Paid $4,800 on March 1 , Year 7 , for one year's lease in advance on the company van. 3. Paid $8,400 on May 2, Year 7 , for one year's office rent in advance. 4. Purchased $550 of supplies on account. 5. Paid cash to purchase 105 alarm systems at a cost of $285 each. 6. Pacilio has noticed its accounts recelvable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately 3 percent of total credit sales. Pacilio has decided it will, starting this year, adopt the allowance method of accounting for uncollectible accounts. It will record an adjusting entry to recognize the estimate at the end of the year. 7. In trying to collect several of its delinquent accounts, Pocilio has learned that these customers have either declared bankruptcy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account. 9. Record the cost of goods sold related to the sale from Event 8 using the Fiko method. 10. Paid the balance of the accounts payable. 11. Pacilio began accepting credit cards for some of its monitoring semice sales. The credit card company charges a fee of 4 percent. Total monitoring services for the year were $68,000. Pacia accepted credit cards for $24,000 of this amount. The other $44,000 was sales on account. 12. On July 1, Year 7, Pacilio replenished the petty cash fund. The fund contained $21 of currency and receipts of $50 for yard mowing. $22 for ofice supplies expense, and \$9 for miscellaneous expenses 13. Collected the amount due from the credit card company. 14. Paid installers and other employees a total of 545,000 cash for salaries. 15. Coliected $116,800 of accounts receivable during the year. 7. In trying to coilect severai or its deanquent accounts, racino nas leamea mat unese customets nave enter aeciarea Dankrupicy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account. 9. Record the cost of goods sold related to the sale from Event 8 using the FIFO method. 10. Paid the balance of the accounts payable. 11. Pacilio began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of 4 percent. Total monitoring services for the year were $68,000. Pacilio accepted credit cards for $24,000 of this amount. The other $44,000 was sales on account. 12. On July 1, Year 7, Pacilio replenished the petty cash fund. The fund contained $21 of currency and receipts of $50 for yard mowing. $22 for office supplies expense, and $9 for miscellaneous expenses. 13. Collected the amount due from the credit card company. 14. Paid installers and other employees a total of $45,000 cash for salaries. 15. Collected $116,800 of accounts receivable during the year. 16. Paid $9,500 of advertising expense during the year. 17. Paid $5,200 of utilities expense for the year. 18. Paid a dividend of $20,000 to the shareholders. Adjustments 19. There was $250 of supplies on hand at the end of the year. 20. Recognized the expired rent for both the van and the office for the year. 21. Recognized the uncollectible accounts expense for the yeor using the allowance method. 22. Accrued salaries at December 31, Year 7, were $2,100. The balance sheet is the accounting equation: Assets = Liablities + Equity. Fach asset and liability account is reported separately on the balance sheet. Choose the oppropriate accounts to be reported on the balance sheet. The unadjusted, separately on tusted, or post-closing balances will appear for each account, based on your selection. separately on the balance sheet. Choose the appropriate accounts to be reported on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 7, had the following normal balances: During Year 7, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 6. 2. Paid $4,800 on March 1 , Year 7 , for one year's lease in advance on the company van. 3. Paid $8,400 on May 2, Year 7 , for one year's office rent in advance. 4. Purchased $550 of supplies on account. 5. Paid cash to purchase 105 alarm systems at a cost of $285 each. 6. Pacilio has noticed its accounts recelvable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately 3 percent of total credit sales. Pacilio has decided it will, starting this year, adopt the allowance method of accounting for uncollectible accounts. It will record an adjusting entry to recognize the estimate at the end of the year. 7. In trying to collect several of its delinquent accounts, Pocilio has learned that these customers have either declared bankruptcy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account. 9. Record the cost of goods sold related to the sale from Event 8 using the Fiko method. 10. Paid the balance of the accounts payable. 11. Pacilio began accepting credit cards for some of its monitoring semice sales. The credit card company charges a fee of 4 percent. Total monitoring services for the year were $68,000. Pacia accepted credit cards for $24,000 of this amount. The other $44,000 was sales on account. 12. On July 1, Year 7, Pacilio replenished the petty cash fund. The fund contained $21 of currency and receipts of $50 for yard mowing. $22 for ofice supplies expense, and \$9 for miscellaneous expenses 13. Collected the amount due from the credit card company. 14. Paid installers and other employees a total of 545,000 cash for salaries. 15. Coliected $116,800 of accounts receivable during the year. 7. In trying to coilect severai or its deanquent accounts, racino nas leamea mat unese customets nave enter aeciarea Dankrupicy or moved and left no forwarding address. These uncollectible accounts amount to $1,900. 8. Sold 110 alarm systems for $63,800. All sales were on account. 9. Record the cost of goods sold related to the sale from Event 8 using the FIFO method. 10. Paid the balance of the accounts payable. 11. Pacilio began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of 4 percent. Total monitoring services for the year were $68,000. Pacilio accepted credit cards for $24,000 of this amount. The other $44,000 was sales on account. 12. On July 1, Year 7, Pacilio replenished the petty cash fund. The fund contained $21 of currency and receipts of $50 for yard mowing. $22 for office supplies expense, and $9 for miscellaneous expenses. 13. Collected the amount due from the credit card company. 14. Paid installers and other employees a total of $45,000 cash for salaries. 15. Collected $116,800 of accounts receivable during the year. 16. Paid $9,500 of advertising expense during the year. 17. Paid $5,200 of utilities expense for the year. 18. Paid a dividend of $20,000 to the shareholders. Adjustments 19. There was $250 of supplies on hand at the end of the year. 20. Recognized the expired rent for both the van and the office for the year. 21. Recognized the uncollectible accounts expense for the yeor using the allowance method. 22. Accrued salaries at December 31, Year 7, were $2,100. The balance sheet is the accounting equation: Assets = Liablities + Equity. Fach asset and liability account is reported separately on the balance sheet. Choose the oppropriate accounts to be reported on the balance sheet. The unadjusted, separately on tusted, or post-closing balances will appear for each account, based on your selection. separately on the balance sheet. Choose the appropriate accounts to be reported on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection