Exercise 3-20B Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (L03-3,3-4 3-5, 3-6, 3-7) The following information applies to the questions displeyed below On January 1, 2018, Red Flesh Photography had the following belences: Cash $15.000, Supplies, $7.000 Land, $64,000, Deferred Revenue $6,000, Common Stock s60.,000 Retained Earnings, $20,000. During 2018, the company had the following transactions . Issue edditional shares of common stock, $22.000 3. Pay salaries to employees for work in 2018. $25 5. Purchase supplies on eccount, $20.000 e services to customers for cash, $40,000, and on account $30.000 6 dividends, $3.000 er 31, 2018 1. Employees are owed an additional $5.000 in salaries. 2. Three months of the rental space has expired 3. Supplies of $4.000 remein on hand. 4 All of the services essocieted with the beginning deferred revenue heve been pertormed Exercise 3-20B R Type here to