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The account balances of Pacilio Security Services, Inc as of January 1. Year 3, are shown here: $ 8,900 1,500 65 800 Cash Accounts Receivable Supplies Prepaid Rent Land Accounts Payable Unearned Revenue Salaries Payable Notes Payable Common Stock Retained Earnings 4,000 1,050 200 1,200 2,000 8,000 2,615 During Year 3. Pacitio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 2. 2. Paid the balance of $2,000 on the debt owed to the Small Business Government Agency. The loan is interest-free 3. Performed $32,000 of security services for numerous local events during the year $21000 was on account and $11,000 was for cash 4.On May 1 paid $3,000 for 12 months' rent in advance 5 Purchased supplies on account for $700. 6. Paid salaries expense for the year of $9,000 7. Incurred other operating expenses on account $4,200. 8. On October 1, Year 3. a customer paid $1,200 for services to be provided over the next 12 months 9. Collected $19,000 of accounts receivable during the year. 10. Paid $5.950 on accounts payable. 11. Paid $1.800 of advertising expenses for the year. 12. Paid a cash dividend to the shareholders of $4,650. 13. The market value of the land was determined to be $5,500 at December 31, Year 3. Adjustments 14. There was $120 of supplies on hand at the end of the year 15. Recognized the expired rent. 16. Recognized the earned revenue from Year 2 and transaction no. 8 17 Accrued salaries were $1,000 at December 31, Year 3 Journal entry worksheet Paid the balance of $2,000 on the debt owed to the Small Business Government Agency. The loan is interest-free. Note: Enter debits before credits. General Journal Date Feb 28 Debit Credit Record entry Clear entry View general journal 2. 3 4 5 6 7 8 SERE 20 Performed $32,000 of security services for numerous local events during the year; $21,000 was on account and $11,000 was for cash. Note: Enter debits before credits. Date General Journal Debit Credit Apr 15 Record entry Clear entry View general journal Journal entry worksheet

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