The trial balance of Pacilio Security Services, Incorporated as of January $1,$ Year $8,$ had the following normal balances:

Cash $$93,708$

Petty cash $100$

Accounts receivable $22,540$

Allowance for doubtful accounts $1,334$

Supplies $250$

Prepaid rent $3,600$

Merchandise inventory $(18$ @ $$285)5,130$

Land $4,000$

Salaries payable $2,100$

Common stock $50,000$

Retained earnings $75,894$

During Year $8,$ Pacilio Security Services experienced the following transactions:

Paid the salaries payable from Year $7.$

Purchased equipment and a van for a lump sum of $$36,000$ cash on January $2,$ Year $8.$ The equipment was appraised for $$10,000$ and the van was appraised for $$30,000.$

Paid $$9,000$ on May $1,$ Year $8,$ for one year$$s office rent in advance.

Purchased $$300$ of supplies on account.

Purchased $120$ alarm systems at a cost of $$280$ each. Paid cash for the purchase.

After numerous attempts to collect from customers, wrote off $$2,350$ of uncollectible accounts receivable.

Sold $115$ alarm systems for $$580$ each. All sales were on account.

Record the cost of goods sold related to the sale from Event $7$ using the FIFO method.

Billed $$86,000$ of monitoring services for the year. Credit card sales amounted to $$36,000,$ and the credit card company charged a $4$ percent fee. The remaining $$50,000$ were sales on account.

Replenished the petty cash fund on June $30.$ The fund had $$12$ cash and receipts of $$45$ for yard mowing, $$28$ for office supplies expense, and $$11$ for miscellaneous expenses.

Collected the amount due from the credit card company.

Paid installers and other employees a total of $$52,000$ cash for salaries.

Collected $$115,500$ of accounts receivable during the year.

Paid $$12,500$ of advertising expense during the year.

Paid $$6,800$ of utilities expense for the year.

Sold the land, which was purchased in $2011,$ for $$12,000.$

Paid the accounts payable.

Paid a dividend of $$10,000$ to the shareholders.

Adjustments

Determined that $$180$ of supplies were on hand at the end of the year.

Recognized the expired rent for both the old van and the office building for the year. The lease on the van was not renewed. Rent paid on March $1,$ Year $7,$ for the van was $$4,800.$

Recognized uncollectible accounts expense for the year using the allowance method. Pacilio estimates that $3$ percent of sales on account will not be collected.

Recognized depreciation expense on the equipment and the van. The equipment has a five$-$year life and a $$2,000$ salvage value. The van has a four$-$year life and a $$6,000$ salvage value. The company uses double$-$declining$-$balance for the van and straight$-$line for the equipment.

Accrued salaries at December $31,$ Year $8,$ were $$1,500.$