Required information

Problem 3-32A Comprehensive problem: single cycle LO 3-1, 3-2, 3-3, 3-4

[The following information applies to the questions displayed below.]

The following transactions pertain to Smith Training Company for Year 1:

Jan.	30		Established the business when it acquired $48,000 cash from the issue of common stock.
Feb.	1		Paid rent for office space for two years, $17,400 cash.
Apr.	10		Purchased $870 of supplies on account.
July	1		Received $20,000 cash in advance for services to be provided over the next year.
	20		Paid $653 of the accounts payable from April 10.
Aug.	15		Billed a customer $9,500 for services provided during August.
Sept.	15		Completed a job and received $3,400 cash for services rendered.
Oct.	1		Paid employee salaries of $35,500 cash.
	15		Received $9,000 cash from accounts receivable.
Nov.	16		Billed customers $30,000 for services rendered on account.
Dec.	1		Paid a dividend of $800 cash to the stockholders.
	31		Adjusted records to recognize the services provided on the contract of July 1.
	31		Recorded $2,350 of accrued salaries as of December 31.
	31		Recorded the rent expense for the year. (See February 1.)
	31		Physically counted supplies; $80 was on hand at the end of the period.

Problem 3-32A Parte e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to the T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.) View transaction list X 1 Record the closure of service revenue. 2 Record the closure of expenses account. 3 Record the payment of Dividends. Credit Note : = journal entry has been entered Record entry Clear entry View general journal Problem 3-32A Part f f. Prepare a post-closing trial balance for Year 1. (Round your final answers to the nearest whole dollar amount.) SMITH TRAINING COMPANY Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Totals