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On January 1 , 2 0 2 4 , Red Flash Photography had the following balances: Cash, $ 2 9 , 0 0 0 ;

On January 1,2024, Red Flash Photography had the following balances: Cash, $29,000; Supplies, $9,700; Land, $77,000; Deferred Revenue, $6,700; Common Stock $67,000; and Retained Earnings, $42,000. During 2024, the company had the following transactions:
1. February 15 Issue additional shares of common stock, $37,000.
2. May 20 Provide services to customers for cash, $52,000, and on account, $47,000.
3. August 31 Pay salaries to employees for work in 2024, $40,000.
4. October 1 Purchase rental space for one year, $29,000.
5. November 17 Purchase supplies on account, $39,000.
6. December 30 Pay dividends, $3,700.
The following information is available on December 31,2024:
Employees are owed an additional $5,700 in salaries.
Three months of the rental space have expired.
Supplies of $6,700 remain on hand. All other supplies have been used.
All of the services associated with the beginning deferred revenue have been performed.Enenclue Alpos) Pert 4
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