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On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock
On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 24,600 6,000 3,900 58,000 $ 92,500 Credit $ 4,000 73,000 15,500 $ 92,500 During January 2024, the following transactions occur: January 2 Purchase rental space for one year in advance, $8,400 ($700 per 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. a. Rent for the month of January has expired. b. Supplies remaining at the end of January total $3,600. c. By the end of January, $3,800 of services has been provided to customers who paid in advance on January 17. Journal entry worksheet Note: Enter debits before credits. Record the entry to close the expense accounts: Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline Date & Account Tite & Debit & Credit \\ \hline January 31 & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} On January 1. 2024, the general ledger of Dynamite Fireworks includes the following adcount balances: During January 2024, the following transactions occur: January 2 Purchase rental space for one year in advance, $8,400 ( $700 per month). January 9 Purchase additional supplies on account, $4,300. January 13 Provide services to custoners on account, $26,360. 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 avallable on January 31. a. Rent for the month of January has expired. b. Supplies remaining at the end of January total $3,600. c. By the end of January, $3,800 of services has been provided to customers who paid in advance on January 17 a. Rent for the month of January bas expired. b. Supplies remaining at the end of January total $3,600. c. By the end of January, $3,800 of services has been provided to customeis who paid in advance on January 17 . d. Unpaid salarles at the end of January are $5,240. Prepare the fournal entries for transactions. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field
On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 24,600 6,000 3,900 58,000 $ 92,500 Credit $ 4,000 73,000 15,500 $ 92,500 During January 2024, the following transactions occur: January 2 Purchase rental space for one year in advance, $8,400 ($700 per 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. a. Rent for the month of January has expired. b. Supplies remaining at the end of January total $3,600. c. By the end of January, $3,800 of services has been provided to customers who paid in advance on January 17.
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