Please help me fix what I did wrong and please explain:
Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (GL) 4. October On January 1, 2021, Red Flash Photography had the following balances: Cash, $25,000; Supplies, $9,300; Land, $73,000; Deferred Revenue, $6,300; Common Stock $63,000; and Retained Earnings, $38,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $33,000. 2. May 20 Provide services to customers for cash, $48,000, and on account, $43,000. 3. August 31 Pay salaries to employees for work in 2021, $36,000. 1 Purchase rental space for one year, $25,000. 5. November 17 Purchase supplies on account, $35,000. 6. December 30 Pay dividends, $3,300. The following information is available on December 31, 2021: 1. Employees are owed an additional $5,300 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $6,300 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed. required in the host account hela.) Ne Date Account Title Debit Credit 1 Feb 15 Cash 33,000 olol Common Stock 33,000 May 20 Cash Accounts Receivable Service Revenue ololol 48,000 43,000 91,000 3 Aug 31 Salaries Expanse Cash lolo 35,000 35,000 4 Oct 01 25,000 Prepaid Rent Cash olo 25,000 5 Nov 17 Supplies Accounts Payable lolo 35,000 3,500 6 Dec 30 3,300 Dividends Cash lolo 3,300 7 Dec 31 5,900 Salaries Expanse Salaries Payable olo 5,300 8 Dec 31 6,250 Rent Expense Prepaid Rent lolo 6,250 9 Dec 31 Supplies Experie Supplies lolo 28,700 28,700 10 Dec 31 6,300 Deferred Revenue Service Raven lolo 6,900 11 Dec 31 91,000 Service Revenue Retained Eamings olo 91,000 12 Dec 31 76,250 Retained Earrings Salaries Expanse Rent Expense Supplies Expense lolololo 41,300 6,250 28,700 13 Dec 31 3,300 Retained Earrings Dividends lolo 3,300 Journal entry worksheet Record the issuance of additional shares of common stock, $33,000. Note: Enter debits before credits. Date Account Title Debit Credit Feb 15 33,000 Cash Common Stock 33,000 Record entry Clear entry View general journal Journal entry worksheet Record the adjusting entry for salaries on December 31. Note: Enter debits before credits. Date Account Title Dec 31 Salaries Expense Salaries Payable Credit Debit 5,300 5,300 Record entry Clear entry View general journal Journal entry worksheet Record the adjusting entry for rent on December 31. Note: Enter debits before credits. Date Account Title Debit Credit Dec 31 6,250 Rent Expense Prepaid Rent 6,250 Record entry Clear entry View general journal Journal entry worksheet . Record the adjusting entry for supplies on December 31. Note: Enter debits before credits. Account Title Debit Credit Date Dec 31 28,700 Supplies Expense Supplies 28,700 Record entry Clear entry View general journal Journal entry worksheet Record the adjusting entry for deferred revenue on December 31. Note: Enter debits before credits. Date Debit Credit Dec 31 Account Title Deferred Revenue Service Revenue 6,300 6,300 Record entry Clear entry View general journal Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Date Debit Credit Dec 31 76,250 Account Title Retained Earnings Salaries Expense Rent Expense Supplies Expense 41,300 6,250 28,700 Record entry Clear entry View general journal Journal entry worksheet
