On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances points Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals Debit Credit $ 44,100 47,300 8,900 78,000 $ 10,400 16,000 14,000 94,000 43,900 $ 178,300 $178, 300 eBook References During January 2021, the following transactions occur: January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $18, 200. 10 Purchase additional supplies on account, $6,300. January 12 Purchase 1,100 shares of treasury stock for $21 per share. January 15 Pay cash on accounts payable, $17,900. January 21 Provide services to customers for cash, $50,500. January 22 Receive cash on accounts receivable, $18,000. January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 14,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) 30 Resell 800 shares of treasury stock for $23 per share. January 31 Pay cash for salaries during January, $43,400. The following information is available on January 31, 2021. a. Unpaid utilities for the month of January are $7,600. b. Supplies at the end of January total $6,500. c. Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,400. d. Accrued income taxes at the end of January are $2,500. 1 Record issuance of an additional 2,000 shares of $1 par value common stock for $40,000. 2 Record the providing of services to customers on account, $18,200. 3 Record purchase of additional supplies on account, $6,300. 4 Record purchase of 1,100 shares of treasury stock for $21 per share. 5 Record payment of cash on accounts payable, $17,900. 6 Record the providing of services to customers for cash, $50,500. 7 Record the receipt of cash on accounts receivable, $18,000. 8 Record the declaration of a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 14,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) 9 Record the reselling of 800 shares of treasury stock for $23 per share. 10 Record the payment of cash for salaries during January, $43,400. 11 Unpaid utilities for the month of January are $7,600. Prepare the adjusting entry for utilities. 12 Supplies at the end of January total $6,500. Prepare the adjusting entry for supplies. 13 Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,400. Prepare the adjusting entry for depreciation. 14 Accrued income taxes at the end of January are $2,500. Prepare the adjusting entry for income taxes. 15 Record the closing entry for revenue. 16 Record the closing entry for expenses. 17 Record the closing entry for dividends