Required information Exerclse 9-24 (Algo) Complete the accounting cycle using long-term llability transactlons (LO9-2, 9-8) [The following information applies to the questions displayed below.] On January 1, 2024, the general ledger of Freedom Fireworks Includes the following account balances: During January 2024, the following transactions occur: January 1 Borrow $109,000 from Captive Credit Corporation. The installment note bears interest at 68 annua1ly and matures in 5 years. Payments of $2,107 are required at the end of each nonth for 60 nonths. January 4 Receive $31,990 from customers on accounts receivable. January 18 Pay cash on accounts payable, $26,680. January 15 pay cash for salaries, $29,800. January 30 Firework sales for the month total $200,460. The cost of the units sold is $117,680. January 31 Pay the first monthly installnent of $2,107 related to the $109, ee borrowed on January 1. Exerclse 9.24 (Algo) Part 6 6. Record closing entrles. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits