Accounts	Debits				Credits
Cash	$	26,500
Accounts Receivable		17,300
Prepaid Insurance		15,800
Land		167,000
Accounts Payable					$	8,600
Deferred Revenue						7,700
Common Stock						162,000
Retained Earnings						48,300
Totals	$	226,600			$	226,600

The following is a summary of the transactions for the year

1.		January		9		Provide storage services for cash, $153,100, and on account, $61,700.
2.		February		12		Collect on accounts receivable, $53,400.
3.		April		25		Receive cash in advance from customers, $14,800.
4.		May		6		Purchase supplies on account, $13,000.
5.		July		15		Pay property taxes, $10,400.
6.		September		10		Pay on accounts payable, $13,300.
7.		October		31		Pay salaries, $142,600.
8.		November		20		Issue shares of common stock in exchange for $46,000 cash.
9.		December		30		Pay $4,700 cash dividends to stockholders.

Prepare the entries for the following

• Record the adjusting entry for insurance expired during the year, $8,900.

• Record the adjusting entry for supplies remaining on hand at the end of the year equal to $4,800.

• Record the adjusting entry for revenue earned. Provided services of $13,700 related to cash paid in advance by customers.

• Record the closing entry for revenue.

• Record the closing entry for expenses.

• Record the closing entry for cash dividends.