Required information The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Accounts Cash Debits $ 26,400 Credits Accounts Receivable 17,200 Prepaid Insurance 15,600 Land 166,000 Accounts Payable $ 8,500 Deferred Revenue 7,600 Common Stock Retained Earnings Totals 161,000 48,100 $225,200 $225,200 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $152,100, and on account, $61,200. 12 Collect on accounts receivable, $53,300. 2. February 3. April 4. May 5. July 25 Receive cash in advance from customers, $14,700. 6 Purchase supplies on account, $12,800. 15 Pay property taxes, $10,300. 6. September 10 Pay on accounts payable, $13,200. 7. October 31 Pay salaries, $141,600. 8. November 20 Issue shares of common stock in exchange for $45,000 cash. 9. December 30 Pay $4,600 cash dividends to stockholders.