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

Jan.	30		Established the business when it acquired $53,000 cash from the issue of common stock.
Feb.	1		Paid rent for office space for two years, $17,300 cash.
Apr.	10		Purchased $720 of supplies on account.
July	1		Received $25,000 cash in advance for services to be provided over the next year.
	20		Paid $540 of the accounts payable from April 10.
Aug.	15		Billed a customer $9,100 for services provided during August.
Sept.	15		Completed a job and received $3,000 cash for services rendered.
Oct.	1		Paid employee salaries of $37,500 cash.
	15		Received $9,500 cash from accounts receivable.
Nov.	16		Billed customers $37,500 for services rendered on the account.
Dec.	1		Paid a dividend of $1,500 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; $70 was on hand at the end of the period.

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.)

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Journal entries Smith Training Co Date Account Debit Credit 30Jan Cash 5400... View the full answer