Prepare the journal entries for transactions. Note: If no entry is required for a particular transaction/event, select "No journal entry 1 Record the issuance of additional shares of common 13 stock, $35,000. 2 Record the entry for services provided to customers for cash, $50,000, and on account, $45,000. 3 Record the salaries paid to employees for work in 2024, $38,000. 4 Record the purchase of rental space for one year, Credit $27,000. 5 Record the purchase of supplies on account, $37,000. 6 Record the payment of dividends, $3,500. Note: = journal entry has been entered Prepare the journal entries for transactions. Note: If no entry is required for a particular transaction/event, select "No 6 Record the payment of dividends, $3,500. 7 On December 31, employees are owed an additional $5,500 in salaries. Record the adjusting entry for salaries on December 31. 8 On December 31 , three months of the rental space have expired. Record the adjusting entry for rent on December 31. 9 On December 31 , supplies of $6,500 remain on hand. Record the adjusting entry for supplies on December 31. 10 On December 31, all of the services associated with the beginning deferred revenue have been performed. Record Note: Prepare the journal entries for transactions. Note: If no entry is required for a particular transaction/event, select "No journa 31. 9 On December 31 , supplies of $6,500 remain on hand. Record the adjusting entry for supplies on December 31. 10 On December 31 , all of the services associated with the beginning deferred revenue have been performed. Record the adjusting entry for deferred revenue on December 31. 11 Record the entry to close the revenue accounts. 12 Record the entry to close the expense accounts. 13 Record the entry to close the dividends account. On January 1, 2024, Red Flash Photography had the following balances: Cash, \$27,000; Supplies, \$9,500; Land, \$75,000; Deferred Revenue, $6,500; Common Stock $65,000; and Retained Earnings, $40,000. During 2024. the company had the following transactions: 1. February 15 Issue additional shares-of comon stock, $35,000. 2. May 20 Provide services to customers for cash, $50,000, and on account, $45,000. 3. August 31 Pay salaries to employees for work in 2924,538,009. 4. October 1 Purchase rental space for one year, $27,009. 5. Novenber 17 Purchase supplies on account, \$37, 600 . 6. Decenber 39 Pay dividends, $3,580. The following information is available on December 31, 2024: 1. Employees are owed an additional $5,500 in salaries. 2. Three months of the rental space have explied. 3. Supplies of \$6,500 romain on hand. All other suppties have been used. 4. All of the services associated with the beginning deferred revenue have been performed. Prepare the journal entries for transactionsi. Note: If no entiy is fequired for a particular transoction/event, select "No fournal entry tequired" in the first occount field. On January 1, 2024, Red Flash Photography had the following balances: Cash, \$27,000; Sup Revenue, $6,500; Common Stock \$65,000; and Retained Earnings, \$40,000. During 2024, t transactions: 1. February 15 Issue additional shares of common stock, $35,600. 2. May 20 Provide services to customers for cash, $50,000, and on account, $45,000. 3. August 31 Pay salaries to employees for work in 2024, $38,000. 4. October 1 Purchase rental space for one year, $27,000. 5. November 17 Purchase supplies on account, $37,000. 6. December 30 Pay dividends, $3,500. The following information is available on December 31, 2024: 1. Employees are owed an additional $5,500 in salaries. 2. Three months of the rental space have expired. 3. Supplies of $6,500 remain on hand. All other supplies have been used. 4. All of the services associated with the beginning deferred revenue have been performed
