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: Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals Debits $ 57,500 Credits 41,700 126,800 16,900 46,000 116,000 47,100 $226,000 $226,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $78,400. 2. February 25 Provide services to customers for cash, $83,300. 19 Collect on accounts receivable, $47,300. 3. March 4. April 5. June 6. July 30 Issue shares of common stock in exchange for $46,000 cash. 16 Purchase supplies on account, $15,300. 7 Pay on accounts payable, $12,900. 7. September 30 Pay salaries for employee work in the current year, $80,200. 8. November 22 Pay advertising for the current year, $24,100. 9. December 30 Pay $4,500 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $4,100 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $3,100 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $3,900. 1. 3. 6. & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. Cash Beg. Bal. 57,500 0 2. 83,300 12,900 6. 3. 47,300 80,200 7. 4. 46,000 24,100 8. 4,500 9. End. Bal. 112,400 Beg. Bal. 5. Supplies 0 0 15,300 0000 Answer is not complete. Accounts Receivable Beg. Bal. 41,700 0 1. 78,400 47,300 3. End. Bal. 72,800 Land Beg. Bal. 126,800 0 11,400 ADJ. 3. End. Bal. 3,900 End. Bal. 126,800 Accounts Payable Beg. Bal. 6. 0 12,900 End. Bal. Salaries Payable 16,900 Beg. Bal. 0 0 15,300 5. 3,100 ADJ. 2. 19,300 End. Bal. 3,100 Beg. Bal. Interest Payable 0 Notes Payable 0 Beg. Bal. 0 46,000 4,100 ADJ. 1. End. Bal. 4,100 End. Bal. 46,000 Beg. Bal. Common Stock 0 Retained Earnings 116,000 46,000 4. Beg. Bal. CI. entry 0 47,100 4,500 End. Bal. Beg. Bal. 9. End. Bal. 162,000 Dividends 0 0 4,500 End. Bal. 42,600 Service Revenue Beg. Bal. 0 0 78,400 83,300 1. 2. 4,500 Cl. entry CI. entry End. Bal. 161,700 Beg. Bal. 7. Salaries Expense Advertising Expense 0 0 80,200 Beg. Bal. 0 8. 24,100 ADJ. 2. 3,100 83,300 Cl. entry End. Bal. End. Bal. Beg. Bal. Interest Expense 0 ADJ. 1. 4,100 End. Bal. 0 24,100 CI. entry Beg. Bal. ADJ. 3. Supplies Expense 0 11,400 4,100 Cl. entry End. Bal. 11,400 CI. entry