Required information On January 1, Year 1, the general ledger of a company includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 25,700 7,100 5,000 69,000 S 5,100 84,000 17,700 $ 106,800 $ 106,800 During Year 1, the following transactions occur: January 2 Purchase rental space for one year in advance, $11,700 ($975/month). January 9 Purchase additional supplies on account, $5,400. January 13 Provide services to customers on account, $27,400. January 17 Receive cash in advance from customers for services to be provided in the future, $5,600. January 20 Pay cash for salaries, $13,400. January 22 Receive cash on accounts receivable, $26,000. January 29 Pay cash on accounts payable, $5,900. 6. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. General Journal Debit Credit Date January 31 Record entry Clear entry View general journal