Required information [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 Eamings, $29,000. During 2024, the company had the following transactions: 1. February 15 Issue additional shares of conton 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 solaries. 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. Prepare closing entines, (If no entry is required for a particular transaction/event, select "No Journal Entry Recquired" in the first ccount field.) Journal entry worksheet 23 Record the entry to close the revenue accounts. Wote finter debits besore creuts