On December 31, 2020, Reuters Ltd. had the following post-closing trial balance: Debit Credit Cash $ 6,000 Accounts receivable 4,000 Prepaid insurance 2,400 Supplies inventory 900 Accounts payable $ 800 Share capital 100 Retained earnings 12,400 $ 13,300 $ 13,300 During the month ended January 31, 2021, the following transactions and events occurred: 1. Purchased land worth $90,000. The entire purchase was financed with a note payable. 2. Performed services worth $8,000, receiving cash in exchange. 3. Purchased supplies inventory on account for $800. 4. Paid $1,200 on account. 5. Paid January salaries of $2,300. 6. Paid January rent of $1,300. 7. January interest of $300 will be paid the first day of the following month. 8. Received $2,500 on account. 9. Received the January utility bill for $200. The bill is due the following month. 10. Declared and paid a dividend of $600. 11. Adjusted prepaid insurance for 1 month out of 6 months. 12. Performed an inventory count and determined $800 of supplies were consumed during the month. Required 1: Determine the closing balance in each of the following accounts as at and for the month ended January 31, 2021. Please enter all numbers as positive (do not denote credits as negative). Ignore closing entries. Round to the nearest whole number. Account Balance Supporting Work Cash Accounts receivable Prepaid insurance Supplies inventory Land Accounts payable Interest payable Bank loan payable Share capital Retained earnings Dividends Sales revenue Salary expense Supplies expense Rent expense Interest expense Insurance expense Utilities expense Required 2: For each of the following accounts, determine whether the closing balance is in a Debit or Credit position. Debit or Account Credit Interest expense . Sales revenue Dividends Retained earnings Accounts payable Prepaid insurance