GL2-11 Complete the accounting cycle On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,600 6,000 3,900 58,000 $ 4,000 73,000 15,500 $92,500 $92,500 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $8,400 ($700/month). January 9 Purchase additional supplies on account, $4,300. January 13 Provide services to customers on account, $26,300. January 17 Receive cash in advance from customers for services to be provided in the future, $4,500. January 20 Pay cash for salaries, $12,300. January 22 Receive cash on accounts receivable, $24,900. January 29 Pay cash on accounts payable, $4,800. The following information is available on January 31. Rent for the month of January has expired. Supplies remaining at the end of January total $3,600. By the end of January, $3,800 of services has been provided to customers who paid in advance on January 17. Unpaid salaries at the end of January are $5,240. Journal entry worksheet Record the adjusting entry for rent. Rent for the month of January has expired. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record the adjusting entry for supplies. Supplies remaining at the end of January total $3,600. Jote: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record the adjusting entry for services provided to customers who paid in advance. By the end of January, $3,800 of services has been provided to customers who paid in advance on January 17. ote: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record the adjusting entry for salaries payable. Unpaid salaries at the end of January are $5,240. Jote: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record the entry to close the revenue accounts. ote: Enter debits before credits. Date Jan 31 Account Title Debit Credit Record the entry to close the expense accounts. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31