10 The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: 10 points Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals Debits Credits $ 45,500 29,700 114,800 15,700 34,000 104,000 36,300 $190,000 $190,000 Return to question The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $66,400. 2. February 25 Provide services to customers for cash, $77,300. 3. March 4. April 5. June 6. July 19 Collect on accounts receivable, $46,100. 30 Issue shares of common stock in exchange for $34,000 cash. 16 Purchase supplies on account, $12,900. 7 Pay on accounts payable, $11,700. 7. September 30 Pay salaries for employee work in the current year, $68,200. 8. November 22 Pay advertising for the current year, $22,900. 9. December 30 Pay $3,300 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,900 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,900 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,700. Requirement Answer is not complete. General Journal General Ledger Trial Balance Income Statement Balance Sheet 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 9). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10-12). 3. Review the adjusted 'Trial Balance' as of December 31, 2021. 4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 13-15). < Requirement General Journal >