The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances:

The following is a summary of the transactions for the year:

1.		January		12		Provide services to customers on account, $65,400.
2.		February		25		Provide services to customers for cash, $76,800.
3.		March		19		Collect on accounts receivable, $46,000.
4.		April		30		Issue shares of common stock in exchange for $33,000 cash.
5.		June		16		Purchase supplies on account, $12,700.
6.		July		7		Pay on accounts payable, $11,600.
7.		September		30		Pay salaries for employee work in the current year, $67,200.
8.		November		22		Pay advertising for the current year, $22,800.
9.		December		30		Pay $3,200 cash dividends to stockholders.

The following information is available for the adjusting entries.

Accrued interest on the notes payable at year-end amounted to $2,800 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,800 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,600.

9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Required information (The following information applies to the questions displayed below.) The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances: Credits Debits $ 44,500 28,700 113,800 Accounts Cash Accounts Receivable Land Accounts Payable Notes Payable (due in 2 years) Common Stock Retained Earnings Totals 15,600 33,000 103,000 35,400 $187,000 $ 187,000 The following is a summary of the transactions for the year: 1. January 12 Provide services to customers on account, $ 65,400. 2. February 25 Provide services to customers for cash, $ 76,800. 3. March 19 Collect on accounts receivable, $ 46,000. 4. April 30 Issue shares of common stock in exchange for $33,000 cash. 5. June 16 Purchase supplies on account, $12,700. 6. July 7 Pay on accounts payable, $11,600. 7. September 30 Pay salaries for employee work in the current year, $67,200. 8. November 22 Pay advertising for the current year, $22,800. 9. December 30 Pay $3,200 cash dividends to stockholders. The following information is available for the adjusting entries. Accrued interest on the notes payable at year-end amounted to $2,800 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,800 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,600. View transaction list Journal entry worksheet