Required information [The following information applies to the questions displayed below.] On January 1, 2024, Red Flash Photography had the following balances: Cash, $20,000; Supplies, $8,800; Land, $68,000; Deferred Revenue, $5,800; Common Stock $58,000; and Retained Earnings, $33,000. During 2024, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $28,000. 2. May 20 3. August 31 4. October 1 5. November 17 6. December 30 Provide services to customers for cash, $43,000, and on account, $38,000. Pay salaries to employees for work in 2024, $31,000. Purchase rental space for one year, $20,000. Purchase supplies on account, $30,000. Pay dividends, $2,800. The following information is available on December 31, 2024: 1. Employees are owed an additional $4,800 in salaries. 2. Three months of the rental space have expired. 3. Supplies of $5,800 remain on hand. All other supplies have been used. 4. All of the services associated with the beginning deferred revenue have been performed. 5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 9 < Prev 12 of 12 Next 3 Homework Saved Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate co 3. Supplies of $5,800 remain on hand. All other supplies have been used. 4. All of the services associated with the beginning deferred revenue have been performed. 5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) No 1 Date December 31, 202 Cash Common Stock 2 December 31, 202 Cash Accounts Receivable Service Revenue 3 December 31, 202 Salaries Expense Cash Answer is not complete. General Journal Debit Credit 28,000 28,000 000 43,000 38,000 81,000 31,000 31,000