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[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,
[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, $17,000 5. November 17 Purchase supplies on account, $27,eee. 6. December 30 Pay dividends, $2,5ee. The following information is available on December 31, 2026 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 View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the issuance of additional shares of common stock, $25,000 Note Enter det before credits Date February 15 General Journal Debit Credit Recordemey Clearly View general Journal View transaction list Journal entry worksheet 1 Record the entry for services provided to customers for cash, $40,000, and on account, $35,000. Note Enterdetits before credits General Journal Debit Credit Date May 20 Record Clear entry View general Journal Journal entry worksheet
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