E3-21 On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Debit $23,800 5.200 3.100 50,000 Supplies Lund Accounts Payable Common Stock Retained Earnings Totals $ 3,200 65,000 13.900 $82 100 $82 100 During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $6,000 ($500/month). January 9 Purchase additional supplies on account, $3,500 January 13 Provide services to customers on account, $25,500 January 17 Receive cash in advance from customers for services to be provided in the future, 53,700. January 20 Pay cash for salaries, $11,500. January 22 Receive cash on accounts receivable, $24,100 January 29 Puy cash on accounts payable, $4,000 Required: 1. Record each of the transactions listed above. 2. Record adjusting entries on January 31. c. Rent for the month of January has expired. d. Supplies remaining at the end of January total $2,800. 6. By the end of January, $3,200 of services has been provided to customers who paid in advance on January 17. f. Unpaid salaries at the end of January are $5,800 7. Prepare an adjusted trial balance as of January 31, 2021, after updating beginning balances (above) for transactions during January (Requirement I) and adjusting entries at the end of January (Requirement 2). 8. Prepare an income statement for the period ended January 31, 2021. Page 160 9. Prepare a classified balance sheet as of January 31, 2021. 10. Record closing entries