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Required information The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 26,400 Accounts Receivable 17,200 Prepaid Insurance 15,600 Land 166,000 Accounts Payable $ 3,500 Deferred Revenue 7,600 Common Stock 161,000 Retained Earnings 43,100 Totals $225,200 $225,200 The following is a summary of the transactions for the year: January Provide storage services for cash, $152,100, and on account, $61,200. February Collect on accounts receivable, $53,300. April Receive cash in advance from customers, $14,700. May Purchase supplies on account, $12,800. July Pay property taxes, $10,300. September Pay on accounts payable, $13,200. October Pay salaries, $141,600. November Issue shares of common stock in exchange for $45,000 cash. December Pay $4,600 cash dividends to stockholders.