Required information

On January 1, Year 1, the general ledger of a company includes the following account balances:

Accounts	Debit				Credit
Cash	$	24,800
Accounts Receivable		6,200
Supplies		4,100
Land		60,000
Accounts Payable					$	4,200
Common Stock						75,000
Retained Earnings						15,900
Totals	$	95,100			$	95,100

During Year 1, the following transactions occur:

January		2		Purchase rental space for one year in advance, $9,000 ($750/month).
January		9		Purchase additional supplies on account, $4,500.
January		13		Provide services to customers on account, $26,500.
January		17		Receive cash in advance from customers for services to be provided in the future, $4,700.
January		20		Pay cash for salaries, $12,500.
January		22		Receive cash on accounts receivable, $25,100.
January		29		Pay cash on accounts payable, $5,000.

6. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)