The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 4 hod the following normal balances. Cash $ 12,500 Accounts Receivablo 3,500 Supplies 120 Prepaid Rent 1,000 Land 4.000 Unearned Revenge 900 Salaries Payable 1,000 Coemon Stock 8,000 Retained Earnings 11.220 In Year 4. Pacillo Security Services decided to expand its business to sell security systems and offer 24-hour alarm monitoring services. It plans to phase out its current service of providing security personnel at various events. The following summary transactions occurred during Year 4 1. Pald the salaries payable from Year 3. 2. Acquired an additional $42,000 cash from the issue of common stock 3. Rented a larger building on May 1: paid $6,000 for 12 months' rent in advance, 4. Pald $800 cash for supplies to be used over the next several months by the business S. Purchased alarm systems for resale at a cost of $12,000. The alarm systems were purchased on account with the terms 2/0,1/30 6. Returned alarm systems that had a cost of $240. 7. Installed alarm systems during the year for a total sales amount of $20,000. Sales of $15,000 were on account, while $5,000 were cash sales 8. The cost of the systems sold in Event 7 amounted to $9,440 9. Paid the installers and other employees a total of $9,500 in salaries. 10. Sold $36,000 of monitoring services for the year. The services are billed to the customers each month 11. Pald cash on accounts nivable. The payment was made before the discount period exnired At the time of ourchase the inventory Chec View previous attempt The cost of the systems sold in Event 7 amounted to $9,440. Paid the installers and other employees a total of $9,500 in salaries Sold $36,000 of monitoring services for the year. The services are billed to the customers each month. Paid cash on accounts payable. The payment was made before the discount period expired. At the time of purchase, the inventory has a cost of $8,000 Paid cash to settle additional accounts payable in the amount of $2,780. The payment was made after the discount period expired. Collected $43,000 of accounts receivable during the year. Performed $12.000 of security services for area events: $9,000 was on account and $3,000 was for cash. Pald advertising cost of $1,620 for the year, - Paid $1,100 for utilities expense for the year . Pald a dividend of $12,000 to the shareholders. djustment Information Supplies of $150 were on hand at the end of the year. Recognized the expired rent for the year. Recognized the balance of the unearned revenue, cash was received in Year 3, Accrued salaries at December 31, Year 4 were $1,500. Requirement General Journal General Ledger Trial Balance Income Statement Changes in SE Balance Sheet Statement of CF Analysis Prepare the Journal entries to record transactions (1) through (17). Then prepare the necessary adjusting entries (18) through (21) to correctly report net income for the period. Then record the closing entries (22) through (24) as of December 31, Year 4. (If no entry is required for a transaction, select "No journal entry required" in the first account field.) Prey 1 of 1 Next