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The general ledger of Ryan Racing at January 1, 2024 includes the following account balances: Credits 2B Accounts Debito Cash $42,500 Accounts Receivable 26,700 Land 111,800 Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totala $181,000 The following is a summary of the transactions for the year. $15,400 31,000 101,000 33,600 $181,000 1. January 12 Provide services to customers on account, $63,400. 2. February 25 Provide services to customers for cash, $75,000. 3. March 19 Collect on accounts receivable, $45,800. 4. April 30 Issue shares of common stock in exchange for $31,000 cash. 5. June 16 Purchase supplies on account, $12,300. 6. July 7 Pay on accounts payable, $11,400. 7. September 30 Pay salaries for employee work in the current year, $65,200. 8. November 22 Pay advertising for the current year, $22,600. 9. December 30 Pay $3,000 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,600 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,600 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,400. Required: 1.3.6.& 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances. 2. Record each of the summary transactions listed above. 4. Prepare an unadjusted trial balance. 5. Record adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,600 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,600 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,400. 7. Prepare an adjusted trial balance. 8-a. Prepare the income statement for the year ended December 31, 2024 8-b. Prepare the classified balance sheet for the year ended December 31, 2024 9. Record closing entries 11. Prepare a post-closing trial balance, The general ledger of Ryan Racing at January 1, 2024. Includes the following account balances: Accounts Debits Credits Cash $42,500 Accounts Receivable 26,700 Land 111,800 Accounts Payablo $15,400 Notes Payable (due in 2 years) 31,000 Common Stock 101,000 Retained Earnings 33,600 Totals $181,000 $181,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $63,400. 2. February 25 Provide services to customers for cash, $75,800. 3. March 19 Collect on accounts receivable, $45,800. 4. April 30 Issue shares of common stock in exchange for $31,000 cash. 5. June 16 Purchase supplies on account, $12,300. 6. July 7 Pay on accounts payable, $11,400. 7. September 30 Pay salaries for employee work in the current year, $65,200. 8. November 22 Pay advertising for the current year, $22,600. 9. December 30 Pay $3,000 cash dividends to stockholders. The following information is available for the adjusting entries, Accrued interest on the notes payable at year-end amounted to $2,600 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,600 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,400, RYAN RACING Unadjusted Trial Balance December 31, 2024 Debit Accounts Credit Cash Accounts Receivable Supplies Land Accounts Payable Salaries Payable Interest Payable Notes Payable Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Advertising Expense Interest Expense Supplies Expense Totals