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 $46,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $17,100 cash. Apr. 10 Purchased $900 of supplies on account. July 1 Received $22,500 cash in advance for services to be provided over the next year. 20 Paid $675 of the accounts payable from April 10. Aug. 15 Billed a customer $9,600 for services provided during August. Sept. 15 Completed a job and received $2,500 cash for services rendered. Oct. 1 Paid employee salaries of $36,500 cash. 15 Received $8,300 cash from accounts receivable. Nov. 16 Billed customers $33,000 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 $2,150 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $130 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. In the T- accounts, first enter the balances before closing (from Part b), then post the closing entries. (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 Journal entry worksheet Record the closure of service revenue. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry View general journal Clear entry Cash Balance before closing End. Bal. Accounts Receivable Balance before closing End. Bal. Prepaid Rent Supplies Balance before closing End. Bal. Balance before closing End. Bal. Accounts Payable Balance before closing End. Bal. Unearned Revenue Balance before closing End. Bal. Salaries Payable Common Stock Balance before closing End. Bal. Balance before closing End. Bal. Retained Earnings Dividends Balance before closing Balance before closing CI CI End. Bal. CI CI End. Bal. Service Revenue Salaries Expense Balance before closing Balance before closing CI End. Bal. CI End. Bal. Rent Expense Balance before closing Supplies Expense Balance before closing