please help me to check the red sign and i want to know why

Exercise 2-4 (Algo) Journal entries [LO2-3] The following transactions occurred during the month of June 2024 for the Stridewell Corporation. The company owns and operates a retail shoe store. 1. Issued 135,000 shares of common stock in exchange for $675,000 cash. 2. Purchased office equipment at a cost of $110,000. Cash of $44,000 was paid and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $270,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $459,000. The cost of the goods sold was $229,500. 5. Paid $6,250 in rent on the store building for the month of June. 6. Paid $3,240 to an insurance company for fire and liability insurance for a one-year period beginning June 1, 2024 . 7. Paid $195,075 on account for the inventory purchased in transaction 3. 8. Collected $91,800 from customers on account. 9. Paid shareholders a cash dividend of $6,750. 10. Received cash of $2,200 from customers in advance of services to be provided. Required: Prepare journal entries to record each of the transactions and events listed above. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 2-8 (Algo) Adjusting entries [LO2-6] The following transactions occurred for the Fierro Company. 1. A three-year fire insurance policy was purchased on July 1,2024 , for $14,040. The company debited prepaid insurance for the entire amount at the time of payment. 2. Depreciation on equipment totaled $13,500 for the year. 3. Employee salaries of $19,500 for the month of December will be paid in early January 2025 . 4. On November 1,2024 , the company borrowed $250,000 from a bank. The note requires principal and interest at 12% to be paid on April 30, 2025. 5. On December 1,2024 , the company received $7,500 in cash from another company that is renting office space in Fierro's building. The payment, representing rent for December, January, and February was credited to deferred rent revenue at the time cash was received. Required: Prepare the necessary adjusting entries at December 31, 2024 for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Required: Prepare the necessary adjusting entries at December 31, 2024 for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 2-12 (Algo) Financial statements and closing entries [LO2-7, 2-8] The December 31, 2024, adjusted trial balance for the Blueboy Cheese Corporation is presented belon Required: 1-a. Prepare an income statement for the year ended December 31, 2024. 1-b. Prepare a classified balance sheet as of December 31, 2024. 2. Prepare the necessary closing entries on December 31, 2024. Prepare an income statement for the year ended December 31, 2024. Complete this question by entering your answers in the tabs below. Prepare the necessary closing entries on December 31, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 2-4 (Algo) Journal entries [LO2-3] The following transactions occurred during the month of June 2024 for the Stridewell Corporation. The company owns and operates a retail shoe store. 1. Issued 135,000 shares of common stock in exchange for $675,000 cash. 2. Purchased office equipment at a cost of $110,000. Cash of $44,000 was paid and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $270,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $459,000. The cost of the goods sold was $229,500. 5. Paid $6,250 in rent on the store building for the month of June. 6. Paid $3,240 to an insurance company for fire and liability insurance for a one-year period beginning June 1, 2024 . 7. Paid $195,075 on account for the inventory purchased in transaction 3. 8. Collected $91,800 from customers on account. 9. Paid shareholders a cash dividend of $6,750. 10. Received cash of $2,200 from customers in advance of services to be provided. Required: Prepare journal entries to record each of the transactions and events listed above. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 2-8 (Algo) Adjusting entries [LO2-6] The following transactions occurred for the Fierro Company. 1. A three-year fire insurance policy was purchased on July 1,2024 , for $14,040. The company debited prepaid insurance for the entire amount at the time of payment. 2. Depreciation on equipment totaled $13,500 for the year. 3. Employee salaries of $19,500 for the month of December will be paid in early January 2025 . 4. On November 1,2024 , the company borrowed $250,000 from a bank. The note requires principal and interest at 12% to be paid on April 30, 2025. 5. On December 1,2024 , the company received $7,500 in cash from another company that is renting office space in Fierro's building. The payment, representing rent for December, January, and February was credited to deferred rent revenue at the time cash was received. Required: Prepare the necessary adjusting entries at December 31, 2024 for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Required: Prepare the necessary adjusting entries at December 31, 2024 for each of the above situations. Assume that no financial statements were prepared during the year and no adjusting entries were recorded. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Exercise 2-12 (Algo) Financial statements and closing entries [LO2-7, 2-8] The December 31, 2024, adjusted trial balance for the Blueboy Cheese Corporation is presented belon Required: 1-a. Prepare an income statement for the year ended December 31, 2024. 1-b. Prepare a classified balance sheet as of December 31, 2024. 2. Prepare the necessary closing entries on December 31, 2024. Prepare an income statement for the year ended December 31, 2024. Complete this question by entering your answers in the tabs below. Prepare the necessary closing entries on December 31, 2024. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field