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 2. May 20 3. August 31 4. October 1 5. November 17 6. December 30 Issue additional shares of common stock, $20,000. 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. 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 2. May 20 3. August 31 4. October 1 5. November 17 6. December 30 Issue additional shares of common stock, $20,000. 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