10 1 On January 1, 2021, Red Flash Photography had the following balances: Cash, $25,000; Supplies, $9,300; Land, $73,000; Deferred Revenue, $6,300; Common Stock $63,000; and Retained Earnings, $38,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $33,000. points 2. May 3. August 31 20 Provide services to customers for cash, $48,000, and on account, $43,000. Pay salaries to employees for work in 2021, $36,000. 4. October 1 Paid for one year's rent in advance, $25,000. 5. November 17 Purchase supplies on account, $35,000. 6. December 30 Pay dividends, $3,300. The following information is available on December 31, 2021: 1. Employees are owed an additional $5,300 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,300 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. Answer is not complete. Requirement General Journal General Ledger Trial Balance Income Statement Statement of SE Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) No Date 1 Feb 15 Cash Common Stock 2 May 20 Accounts Receivable Account Title Debit Credit 33,000 33,000 43,000 Return to question 1 6 Dec 30 Dividends Cash 10 points 7 Dec 31 Salaries Expense Salaries Payable co 8 Dec 31 Rent Expense Prepaid Rent 9 Dec 31 Supplies Expense Supplies 10 Dec 31 Deferred Revenue Service Revenue >> >> 3,300 3,300 5,300 5,300 6,250 6,250 38,000 38,000 6,300 6,300 11 Dec 31 Deferred Revenue 6,300 Service Revenue 6,300 12 Dec 31 Rent Expense Supplies Expense Prepaid Rent Supplies 13 Dec 31 Dividends Cash < Requirement General Ledger > 6,250 38,000 6,250 38,000 3,300 3,300 Journal entry worksheet < 1 6 7 8 9 10 11 12 13 Record the entry to close the revenue accounts. Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 Deferred Revenue 6,300 Service Revenue 6,300 View general journal Clear entry Record entry View transaction list Journal entry worksheet < 1 6 7 8 9 10 11 Record the entry to close the expense accounts. Note: Enter debits before credits. Date Dec 31 Rent Expense Supplies Expense Prepaid Rent Supplies 12 12 13 Account Title Debit Credit 6,250 38,000 6,250 38,000 View general journal Record entry Clear entry View transaction list Journal entry worksheet 1 6 7 8 9 10 11 12 Record the entry to close the dividends accounts. Note: Enter debits before credits. Date Dec 31 Dividends Cash 13 13 Account Title Debit Credit 3,300 3,300 Record entry Clear entry View general journal