$!$

Required information

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

On January $1,2024,$ Red Flash Photography had the following balances: Cash, $$23,000$; Supplies, $$9,100$ : Land, $$71,000$; Deferred Revenue, $$6,100$; Common Stock $$61,000$; and Retained Earnings, $$36,000.$ During $2024,$ the company had the following transactions:

February $15$ Issue additional shares of common stock, $$31,000.$

May $20$ Provide services to customers for cash, $$46,000,$ and on account, $$41,000.$

August $31$ Pay salaries to employees for work in $2024,$$$34,000.$

October $1$ Purchase rental space for one year, $$23,000.$

November $17$ Purchase supplies on account, $$33,000.$

December $30$ Pay dividends, $$3,100.$

The following information is available on December $31,2024$:

Employees are owed an additional $$5,100$ in salaries.

Three months of the rental space have expired.

Supplies of $$6,100$ remain on hand. All other supplies have been used.

All of the services associated with the beginning deferred revenue have been performed.

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

Journal entry worksheet

$1$

$2$

$3$

Record the entry to close the revenue accounts.