The trial balance of Pacilio Security Services Inc. as of January 1, 2013 had the following normal balances:
Cash | $8,900 |
Accounts Receivable | 1,500 |
Supplies | 65 |
Prepaid Rent | 800 |
Land | 4,000 |
Accounts Payable | 1,050 |
Unearned Revenue | 200 |
Salaries Payable | 1,200 |
Notes Payable | 2,000 |
Common Stock | 8,000 |
Retained Earnings | 2,815 |
During 2013, Pacilio Security Service experienced the following transaction:
1. Paid the salaries payable from 2012.
2. paid the balance of $2,000 on the debt owed to the Small Business Government Agency. The loan is interest free.
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