Required information [The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2024, Includes the following account balances: Accounts Cash Debits. $43,500 Credits Accounts Receivable. 27,700 Land 112,800 Accounts Payable $15,500 Notes Payable (due in 2 years) 32,000 Common Stock 102,000 Retained Earnings 34,500 Totals $184,000 $184,000 The following is a summary of the transactions for the year: 1. January 12 2. February 25 3. March 19 4. April 30 5. June 16 6. July 7 7. September 30 8. November 22. 9. December 30 Provide services to customers on account, $64,400. Provide services to customers for cash, $76,300. Collect on accounts receivable, $45,900. Issue shares of Common stock in exchange for $32,000 cash. Purchase supplies on account, $12,500. Pay on accounts payable, $11,500. Pay salaries for employee work in the current year, $66,200. Pay advertising for the current year, $22,700. Pay $3,100 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,700 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,500. 4. Prepare an unadjusted trial balance. JACKRABBIT RENTALS Accounts Cash Accounts Receivable Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Interest Expense Unadjusted Trial Balance December 31, 2024 Debit Credit + Supplies Expense Totals $ 0 $ 0 5. Record adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,700 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,700 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,500. (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 < 1 2 3 Record the adjusting entry for interest. Accrued interest on the notes payable at year-end amounted to $2,700 and will be paid January 1, 2025. Note: Enter debits before credits. Transaction December 31 General Journal Debit Credit Record entry Clear entry View general journal 7. Prepare an adjusted trial balance. JACKRABBIT RENTALS Adjusted Trial Balance December 31, 2024 Accounts Debit Credit Cash 58 Accounts Receivable Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Interest Expense Supplies Expense Total Required A Required B Prepare the income statement for the year ended December 31, 2024. JACKRABBIT RENTALS Income Statement For the Year Ended December 31, 2024 Expenses: Total Expenses Required A Required B > View transaction list Journal entry worksheet < 1 2 3 Record the entry to close the revenue accounts. Note: Enter debits before credits. Transaction December 31 General Journal Debit Credit Record entry Clear entry Prev View general journal G 8 Next >