Answer:
Prepaid Rent - Dec 31        $12,580
Rent Expenses                   $51,000
Less: Prepaid rent Jan 1    <u> $10,030</u>
Cash payment for Rent     <u>$53,550</u>
Salaries & Wages payable - Dec 31       $13,600
Salaries & Wage expense                      $91,800
Less: Salaries & wages payable Jan 1   <u>$13,400</u>
Cash payment for Salaries                    <u>$92,000</u>
Accounts receivables - Jan 1              $27,200
Sales revenue                                      $272,000
Less: Accounts receivables, Dec 31    <u>$11,900</u>
Cash receipts from customer            <u>$287,300</u>