Ench journal entry is posted automatically to the general ledger. The unsdjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Choose the appropriate accounts to be reported on the income statement. The unadfusted, adjusted, or post-closing bolances will appear for each account, based on your selection. Exercise 3-20 (Algo) Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) On January 1, 2024, Red Flash Photography had the following balances: Cash, $21,000; Supplies, $8,900; Land, $69,000; Deferred Revenue, \$5,900; Common Stock \$59,000; and Retained Earnings, \$34,000. During 2024, the company had the following transactions: 1. February 15: Issue additional shares of cotan stock, \$29,000. 2. May 20 3. August 31 provide services to cuetobers for cash, $44,000, and on account, $39,000. 4. Oetober 1 pay salarien to employees for work in 2024, $32,000. Purchase rental space for one year, 521,000. 3. Novenber 17 purchase supplies on acc 6. Decenber 30 pay dividends, $2,900. The following information is available on December 31,2024 : 1. Employees are owed an additional $4,900 in salaries. 2. Three months of the rental space have expired. 3. Supplies of $5,900 remain on hand. Ali other supplies have been used. 4. All of the services associated with the beginning deferred revenue have been performed. Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account fieid.) seterences. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Service Revente } \\ \hline No. & Date & Deba & Crwdit & Balance \\ \hline & sen01 & & & 0 \\ \hline a & May 20 & 4 & 8,000 & 63,000 \\ \hline D 10 & Oecomber 31 & & 5,00 & B8, 900 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Salaries Evpenas } \\ \hline No. & Date & Debit & Credst & Belance \\ \hline 4 & Jan01 & & & 0 \\ \hline & Auguat 31 & 32.000 & = & 32.000 \\ \hline a & Dectenber 31 & 4,000 & & 30.000 \\ \hline E 12 & Decenber 31 & & 36.900 & e \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Rotained Earnings } \\ \hline No. & Date & Debit & Credit & Batance \\ \hline & tan01 & & & 34,000 \\ \hline E 11 & December 31 & & 88,900 & 122,900 \\ \hline D 12 & December 31 & 76,150 & & 46,750 \\ \hline C 13 & Decentber 31 & 2,000 & & 43.850 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies Expense } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & tan01 & & & 0 \\ \hline & December 31 & 34,000 & & 34,000 \\ \hline B 12 & Deceriber 31 & & 34,000 & 0 \\ \hline \end{tabular} Dividende \begin{tabular}{|c|c|c|c|c|} \hline No. & Date & Debiat & Crodit & Ealance \\ \hline & & & & 0 \\ \hline & December 30 & 2.900 & & 2.900 \\ \hline a 13 & December 31 & & 2,900 & 0 \\ \hline \end{tabular}