! Required information The following information applies to the questions displayed below.] The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Accounts Debits Cash $58,500 42,700 Accounts Receivable Land 127,800 Accounts Payable Notes Payable (due in 2 years) 17,000 47,000 117,000 48,000 Common Stock Retained Earnings $229,000 $229,000 Totals The following is a summary of the transactions for the year 1. January 2. February 12 Provide services to customers on account, $79,400. 25 Provide services to customers for cash, $83,800 19 Collect on accounts receivable, $47,400. 30 Issue shares of common stock in exchange for $47,000 cash 16 Purchase supplies on account, $15,500 . 7 Pay on accounts payable, $13,000 3. March 4. April 5. June 6. July 22 Pa iina for e work in year, $81,200. ends to stockholders ber 8. Novembe mber $4,600 sh 9. 30 The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $4,200 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $3,200 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $4,000. 7. Prepare an adjusted trial balance. at year-end amounted to $3,200 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $4,000. 7. Prepare an adjusted trial balance. JACKRABBIT RENTALS Adjusted Trial Balance December 31, 2021 Accounts Debit Credit Cash 113,700 74,700 Accounts Receivable Supplies 4,000 Land Accounts Payable 127,800 19,500 Salaries Payable Interest Payable Notes Payable 4,200 47,000 Common Stock 164,000 Retained Earnings 43.400 Dividends Service Revenue Salaries Expense Advertising Expense 24,200 Interest Expense 4,200 Supplies Expense $ 348,600 278,100 Total equal 9. 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 2 3 Record the entry to close the revenue accounts. Note: Enter debits before credits. Debit Date General Journal Credit 163,200 December 31 Service Revenue Accounts Payable 163,200 Clear entry View general journal Record entry equal 9. 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