The account balances of Pacilio Security Services, Inc. as of January $1,$ Year $7,$ are shown here:

During Year $7,$ Pacilio Security Services experienced the following transactions:

Cash $$78,972$

Petty Cash $100$

Accounts Receivable $33,440$

Supplies $160$

Prepaid Rent $3,200$

Merchandise Inventory $(23$ @ $$280)6,440$

Land $4,000$

Accounts Payable $250$

Salaries Payable $1,400$

Common Stock $50,000$

Retained Earnings $74,662$

During Year $7,$ Pacilio Security Services experienced the following transactions:

$1.$ Paid the salaries payable from Year $6.$

$2.$ Paid $$4,800$ on March $1,$ Year $7,$ for one year's lease in advance on the company van.

$3.$ Paid $$8,400$ on May $2,$ Year $7,$ for one year's office rent in advance.

$4.$ Purchased $$550$ of supplies on account.

$5.$ Paid cash to purchase $105$ alarm systems at a cost of $$285$ each.

$6.$ Pacilio has noticed its accounts receivable balance is growing more than desired and some collection problems exist. It appears that uncollectible accounts expense is approximately $3$ percent of total credit sales. Pacilio has decided it will, starting this year, adopt the allowance method of accounting for uncollectible accounts. It will record an adjusting entry to recognize the estimate at the end of the year.

$7.$ In trying to collect several of its delinquent accounts, Pacillo has learned that these customers have either declared bankruptcy or moved and left no forwarding addresses. These uncollectible accounts amount to $$1,900.$

$8.$ Sold $110$ alarm systems for $$63,800.$ All sales were on account. $($Compute cost of goods sold using the FIFO cost flow method.$)$

$9.$ Paid the balance of the accounts payable.

$10.$ Pacilio began accepting credit cards for some of its monitoring service sales. The credit card company charges a fee of $4$ percent. Totat monitoring services for the year were $$68,000.$ Pacilio accepted credit cards for $$24,000$ of this amount. The other $$44,000$ was sales on account.

$11.$ On July $1,$ Year $7,$ Pacilio replenished the petty cash fund. The fund contained $$21$ of currency and receipts of $$50$ for yard mowing, $$22$ for office supplies expense, and $$9$ for miscellaneous expenses.

$12.$ Collected the amount due from the credit card company.

$13.$ Paid installers and other employees a total of $$45,000$ cash for salaries.

$14.$ Collected $$116,800$ of accounts receivable during the year.

$15.$ Paid $$9,500$ of advertising expense during the year.

$16.$ Paid $$5,200$ of utilities expense for the year.

$17.$ Paid a dividend of $$20,000$ to the shareholders.

Adjustments

$18.$ There was $$250$ of supplies on hand at the end of the year.

$19.$ Recognized the expired rent for both the van and the office for the year.

$20.$ Recognized the uncollectible accounts expense for the year using the allowance method.

$21.$ Accrued salaries at December $31,$ Year $7,$ were $$2,100.$

Create journal entries, t$-$accounts, trial balance, income statement, statement of changes in stockholders$$ equity, balance sheet, unadjusted and adjusted trial balance, closing entries, and post closing trial balance.