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[The following information applies to the questions displayed below.]

On January 1, 2024, Red Flash Photography had the following balances: Cash, $16,000; Supplies, $8,400; Land, $64,000; Deferred Revenue, $5,400; Common Stock $54,000; and Retained Earnings, $29,000. During 2024, the company had the following transactions:

1. February 15			Issue additional shares of common stock, $24,000.
2. May 20			Provide services to customers for cash, $39,000, and on account, $34,000.
3. August 31			Pay salaries to employees for work in 2024, $27,000.
4. October 1			Purchase rental space for one year, $16,000.
5. November 17			Purchase supplies on account, $26,000.
6. December 30			Pay dividends, $2,400.

The following information is available on December 31, 2024:

1. Employees are owed an additional $4,400 in salaries.
2. Three months of the rental space have expired.
3. Supplies of $5,400 remain on hand. All other supplies have been used.
4. All of the services associated with the beginning deferred revenue have been performed.

Required: 1. Record the transactions that occurred during the year. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Create appropriate journal entries of these transactions.

Then,

Required information

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[The following information applies to the questions displayed below.]

On January 1, 2024, Red Flash Photography had the following balances: Cash, $16,000; Supplies, $8,400; Land, $64,000; Deferred Revenue, $5,400; Common Stock $54,000; and Retained Earnings, $29,000. During 2024, the company had the following transactions:

1. February 15			Issue additional shares of common stock, $24,000.
2. May 20			Provide services to customers for cash, $39,000, and on account, $34,000.
3. August 31			Pay salaries to employees for work in 2024, $27,000.
4. October 1			Purchase rental space for one year, $16,000.
5. November 17			Purchase supplies on account, $26,000.
6. December 30			Pay dividends, $2,400.

The following information is available on December 31, 2024:

1. Employees are owed an additional $4,400 in salaries.
2. Three months of the rental space have expired.
3. Supplies of $5,400 remain on hand. All other supplies have been used.
4. All of the services associated with the beginning deferred revenue have been performed.

2. Record the adjusting entries at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Create the appropriate journal entries.

Finally,

On January 1, 2024, Red Flash Photography had the following balances: Cash, $16,000; Supplies, $8,400; Land, $64,000; Deferred Revenue, $5,400; Common Stock $54,000; and Retained Earnings, $29,000. During 2024, the company had the following transactions:

1. February 15			Issue additional shares of common stock, $24,000.
2. May 20			Provide services to customers for cash, $39,000, and on account, $34,000.
3. August 31			Pay salaries to employees for work in 2024, $27,000.
4. October 1			Purchase rental space for one year, $16,000.
5. November 17			Purchase supplies on account, $26,000.
6. December 30			Pay dividends, $2,400.

The following information is available on December 31, 2024:

1. Employees are owed an additional $4,400 in salaries.
2. Three months of the rental space have expired.
3. Supplies of $5,400 remain on hand. All other supplies have been used.
4. All of the services associated with the beginning deferred revenue have been performed.

3. Prepare an adjusted trial balance.