Required information [The following information applies to the questions displayed below.] On January 1, 2024, Red Flash Photography had the following balances: Cash, $12,000; Supplies, $8,000; Land, $60,000; Deferred Revenue, $5,000; Common Stock $50,000; and Retained Earnings, $25,000. During 2024, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $20,000. 2. May 20 3. August 31 4. October 1 5. November 17 6. December 30 Provide services to customers for cash, $35,000, and on account, $30,000. Pay salaries to employees for work in 2024, $23,000. Purchase rental space for one year, $12,000. Purchase supplies on account, $22,000. Pay dividends, $2,000. The following information is available on December 31, 2024: 1. Employees are owed an additional $4,000 in salaries. 2. Three months of the rental space have expired. 3. Supplies of $5,000 remain on hand. All other supplies have been used. 4. All of the services associated with the beginning deferred revenue have been performed. 2. Record the adjusting entries at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 2 3 4 On December 31, employees are owed an additional $4,000 in salaries. Record the adjusting entry for salaries on December 31. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal