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Cash 24,900 Accounts Receivable 15,700 Prepaid Insurance 12,600 Land 151,000 Accounts Payable $ 7,000 Deferred Revenue 6,100 Common Stock 146,000 Retained Earnings 45,100 $
Cash 24,900 Accounts Receivable 15,700 Prepaid Insurance 12,600 Land 151,000 Accounts Payable $ 7,000 Deferred Revenue 6,100 Common Stock 146,000 Retained Earnings 45,100 $ $ Totals 204,200 204,200 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, $137,100, and on account, $53,700. Collect on accounts receivable, $51,800. Receive cash in advance from customers, $13,200. Purchase supplies on account, $9,800. Pay property taxes, $8,800. Pay on accounts payable, $11,700. Pay salaries, $126,600. Issue shares of common stock in exchange for $30,000 cash. Pay $3,100 cash dividends to stockholders. Insurance expired during the year is $7,300. Supplies remaining on hand at the end of the year equal $3,200. Provide services of $12,100 related to cash paid in advance by customers. Require... General General Trial Income Balance Journal Ledger Balance Stateme... Sheet Prepare the journal entries for transactions. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. View transaction list 10 Record the adjusting entry for insurance expired during the year of $7,300. 11 Supplies remaining on hand at the end of the year equal $3,200. Record the adjusting entry. 12 Provide services of $12,100 related to cash paid in advance by customers. Record the adjusting entry. 13 Record the entry to close the revenue accounts. 14 Record the entry to close the expense accounts. 15 > $7,100, Credit
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