Talbot Riding Stables provides stables, care for animals, andgrounds for riding and showing horses. The account balances at thebeginning of 2018 were:

Problem Set B Enlarge Image During 2018, the followingtransactions occurred: Talbot provided animal care services, all oncredit, for $210,300. Talbot rented stables to customers for$20,500 cash. Talbot rented its grounds to individual riders,groups, and show organizations for $41,800 cash.

There remains $15,600 of accounts receivable to be collected atDecember 31, 2018.

Feed in the amount of $62,900 was purchased on credit anddebited to the supplies account.

Straw was purchased for $7,400 cash and debited to the suppliesaccount.

Wages payable at the beginning of 2018 were paid early in 2018.Wages were earned and paid during 2018 in the amount of$112,000.

The income tax payable at the beginning of 2018 was paid earlyin 2018. Payments of $73,000 were made to creditors for suppliespreviously purchased on credit. One year's interest at 9% was paidon the notes payable on July 1, 2018. During 2018, Jon Talbot, aprincipal shareholder, purchased a horse for his wife, Jennifer, toride. The horse cost $7,000, and Talbot used his personal credit topurchase it. Property taxes were paid on the land and buildings inthe amount of $17,000. Dividends were declared and paid in theamount of $7,200. The following data are available for adjustingentries: Supplies (feed and straw) in the amount of $30,400remained unused at year-end. Annual depreciation on the buildingsis $6,000. Annual depreciation on the equipment is $5,500. Wages of$4,000 were unrecorded and unpaid at year-end. Interest for sixmonths at 9% per year on the note is unpaid and unrecorded atyear-end. Income taxes of $16,500 were unpaid and unrecorded atyear-end.