Required information (The following information applies to the questions displayed below.) On January 1 2021, Red Flash Photography had the following balances Cash, $17.000; Supplies, $8,500, Land, $65,000; Deferred Revenue $5,500, Common Stock $55,000; and Retained Earnings, $30,000. During 2021, the company had the following transactions 1. February 15 Issue additional shares of common stock, $25,eee. 2. May 20 Provide services to customers for cash, $40,000, and on account, $35,000 3. August 31 Pay salaries to employees for work in 2021, $28,eee. 4. October 1 Purchase rental space for one year, $17,eee. 5. November 17 Purchase supplies on account, $27,000 6. December 30 Pay dividends, $2,500. The following information is available on December 31, 2021 1. Employees are owed an additional $4,500 in salaries. 2. Three months of the rental space has expired 3. Supplies of $5,500 remain on hand. 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 fir account field.) View transaction list Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal 5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the account field.) View transaction list Journal entry worksheet 1 3 Record the entry to close the expense accounts. Note: Enter debits before credits es Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal Saved Chapter #3 5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the account field.) View transaction list Journal entry worksheet 2 3 Record the entry to close the dividends account. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general Journal