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: Debits $ 44,500 28,700 113,800 Credits Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock 15,600 33,000 103,000 35,400 Retained Earnings $187,000 $187,000 Totals The following is a summary of the transactions for the year: 1. January 2. February 3. March 4. April 5. June 6. July 7. September 30 Pay salaries for employee work in the current year, $67,200. 8. November 9. December 12 Provide services to customers on account, $65,400. 25 Provide services to customers for cash, $76,800. 19 Collect on accounts receivable, $46,000. 30 Issue shares of common stock in exchange for $33,000 cash. 16 Purchase supplies on account, $12,700. 7 Pay on accounts payable, $11,600. 22 Pay advertising for the current year, $22,800. 30 Pay $3,200 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,800 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,800 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,600. 9. Record closing entries. (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 Record the entry to close the expense accounts. Note: Enter debits before credits. General Journal Credit Date Debit December 31 Record entry Clear entry View general journal 9. Record closing entries. (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 3 2 Record the entry to close the dividends account. Note: Enter debits before credits. General Journal Debit Date Credit December 31 Clear entry Record entry View general journal