14 Required information [The following information applies to the questions displayed below.] The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances: Accounts Cash Debits Credits $41,500 Accounts Receivable 25,700 ed Land 110,800 Accounts Payable $15,300 Notes Payable (due in 2 years) 30,000 Common Stock 100,000 Retained Earnings 32,700 Totals $178,000 $178,000 ces The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22 9. December 30 Provide services to customers on account, $62,400. Provide services to customers for cash, $75,300. Collect on accounts receivable, $45,700. Issue shares of common stock in exchange for $30,000 cash.. Purchase supplies on account, $12,100. Pay on accounts payable, $11,300. Pay salaries for employee work in the current year, $64,200. Pay advertising for the current year, $22,500. Pay $2,900 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,500 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,500 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,300. 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 9 < Prev 84 of 9 Next > 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal En account field.) View transaction list Journal entry worksheet < 1 2 3 Record the entry to close the revenue accounts. Note: Enter debits before credits. Transaction December 31 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet < 3 Record the entry to close the expense accounts. Note: Enter debits before credits. Transaction December 31 General Journal Debit Credit Record entry Clear entry View general journal 4 9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Ent account field.) View transaction list Journal entry worksheet < 1 2 3 Record the entry to close the dividends account. Note: Enter debits before credits. Transaction s December 31 General Journal Debit Credit Record entry Clear entry View general journal