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, $$30,000$ cash.

Apr. $10$ Purchased $$830$ of supplies on account.

July $1$ Received $$26,500$ cash in advance for services to be provided over the next year.

$20$ Paid $$623$ of the accounts payable from April $10.$

Aug. $15$ Billed a customer $$9,700$ for services provided during August.

Sept. $15$ Completed a job and received $$3,500$ cash for services rendered.

Oct. $1$ Paid employee salaries of $$34,000$ cash.

$15$ Received $$7,500$ cash from accounts receivable.

Nov. $16$ Billed customers $$38,500$ for services rendered on account.

Dec. $1$ Paid a dividend of $$600$ cash to the stockholders.

$31$ Adjusted records to recognize the services provided on the contract of July $1.$

$31$ Recorded $$2,400$ of accrued salaries as of December $31.$

$31$ Recorded the rent expense for the year. $($See February $1.)$

$31$ Physically counted supplies; $$50$ was on hand at the end of the period.