Accounts Cash Accounts Receivable Debits $25,800 16,600 Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Credits 14,400 160,000 $7,900 7,000 155,000 46,900 $216,800 $216,800 1 The following is a summary of the transactions for the year. 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $146,100, and on account, $58,200. Collect on accounts receivable, $52,700. Receive cash in advance from customers, $14,100. Purchase supplies on account, $11,600. Pay property taxes, $9,700. Pay on accounts payable, $12,600. Pay salaries, $135,600. Issue shares of common stock in exchange for $39,000 cash. Pay $4,000 cash dividends to stockholders. Problem 3-9A (Algo) Part 9 Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry ccount fleld.) 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