you have completed so far. It does not indicate completion. Return to question 7 art 7 of 8 25 oints The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Deferred Revenue Common Stock Retained Earnings Totals Debits Credits $3,800 9,800 2,000 22,000 $ 5,200 3,200 4,200 16,000 ,800 $37,400 $37,400 The following is a summary of the transactions for the year: 1. January 2. March 3. May 4. June 24 Provide plumbing services for cash, $13,000, and on account, $58,000. 13 Collect on accounts receivable, $46,000. 6 Issue shares of common stock in exchange for $12,000 cash. 30 Pay salaries for the current year, $31,600. 5. September 15 Pay utilities of $4,200 from 2020 (prior year. 4. Bovenber 24 Beceive cash in advance from customers, $7,200. 7. December 30 Pay $1,600 cash dividends to stockholders. The following information is available for the adjusting entries. Depreciation for the year on the machinery is $5,200 Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $7,200 paid in advance by customers. $5,600 of the work has been completed by the end of the year Accrued unities at year-end amounted to $7,400. 7 fal. It does not indicate completion. 1., 3., 6 & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Answer is not complete. 7 of 8 Cash Beg. Bal. 3,800 1 s 2 3 6 0000 13,000 31,600 4 46,000 4,200 5 12,000 1,600 7 7.200 End. Bal 44,600 Supplies Beg. Bal End. Bal 2,800 2,800 000 Accounts Receivable Beg. Bal 8,800 1 58,000 46,000 2 End. Bal 20,800 Equipment Beg Bal 22,000 End. Bal 22,000 Accumulated Depreciation Accounts Payable Beg Bal 5,200 O 5,200 Adj 1 Beg Bal 3.200 Return to question Required information t Accumulated Depreciation 7 at B Accounts Payable Beg. Bal 5,200 Beg Bal 3,200 5,200 Adj 1. 5 ts End. Bal Utilities Payable 10,400 End. Bal 3,200 Deferred Revenue Beg. Bal 5 4,200 Beg Bal 4,200 End. Bal 7,400 Adj 4. 7,400 End. Bal Common Stock Ratained Earnings Beg Bal 16,000 Beg Bal 8.800 12,000 3 0 MC End Bal 28.000 Dividends Prev End: Bal Service Revenue Next 6.800 Return to questa 00 Dividends 7 of 8 Service Revenue Beg. Bal. 7 Beg. Bal. 1,600 1,600 Cl. entry 71,000 1 5 5,600 Adj 3. ts End. Bal. End. Bal 76,600 Salaries Expense Utilities Expense Beg. Bal Beg. Bal 4 31,600 Adj 4. 7,400 End. Bal 31,600 End. Bal 7,400 Supplies Expense Depreciation Expense Beg. Bal Adj 2. O 1,600 End. Bal. Beg, Bal Adj 1. 0 5.200 1,600 End. Bal 5,200