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The general ledger of Zips Storage at January 1, 2021, includes the following account balances:

Accounts	Debits				Credits
Cash	$	24,900
Accounts Receivable		15,700
Prepaid Insurance		12,600
Land		151,000
Accounts Payable					$	7,000
Deferred Revenue						6,100
Common Stock						146,000
Retained Earnings						45,100
Totals	$	204,200			$	204,200

The following is a summary of the transactions for the year:

1.		January		9		Provide storage services for cash, $137,100, and on account, $53,700.
2.		February		12		Collect on accounts receivable, $51,800.
3.		April		25		Receive cash in advance from customers, $13,200.
4.		May		6		Purchase supplies on account, $9,800.
5.		July		15		Pay property taxes, $8,800.
6.		September		10		Pay on accounts payable, $11,700.
7.		October		31		Pay salaries, $126,600.
8.		November		20		Issue shares of common stock in exchange for $30,000 cash.
9.		December		30		Pay $3,100 cash dividends to stockholders.

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