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Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account
Required information [The following information applies to the questions displayed below.] The general ledger of Zips Storage at January 1, 2024, includes the following account balances: The following is a summary of the transactions for the year: 1.January93.April254.May66.September107.October318.November209.December30Providestorageservicesforcash,$145,100,andonaccount,$57,700.2.February12Receivecashinadvancefromcustomers,$14,000.Purchasesuppliesonaccount,$11,400.Paypropertytaxes,$9,600.5.July15Payonaccountspayable,$12,500.Paysalaries,$134,600.Issuesharesofcommonstockinexchangefor$38,000cash.Pay$3,900cashdividendstostockholders. 1. January 9 Provide storage services for cash, $145,100, and on account, $57,700. 2. February 12 Collect on accounts receivable, $52,600. 3. April 25 Receive cash in advance from customers, $14,000. 4. May 6 Purchase supplies on account, $11,400. 5. July 15 Pay property taxes, $9,600. 6. September 10 Pay on accounts payable, $12,500. 7. October 31 Pay salaries, $134,600. 8. November 20 Issue shares of common stock in exchange for $38,000cash. 9. December 30 Pay $3,900 cash dividends to stockholders. 3. 6. \& 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances
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