The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances:

Accounts	Debits	Credits
Cash	$ 49,500
Accounts Receivable	33,700
Land	118,800
Accounts Payable		$ 16,100
Notes Payable (due in 2 years)		38,000
Common Stock		108,000
Retained Earnings		39,900
Totals	$ 202,000	$ 202,000

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

1. January 12	Provide services to customers on account, $70,400.
2. February 25	Provide services to customers for cash, $79,300.
3. March 19	Collect on accounts receivable, $46,500.
4. April 30	Issue shares of common stock in exchange for $38,000 cash.
5. June 16	Purchase supplies on account, $13,700.
6. July 7	Pay on accounts payable, $12,100.
7. September 30	Pay salaries for employee work in the current year, $72,200.
8. November 22	Pay advertising for the current year, $23,300.
9. December 30	Pay $3,700 cash dividends to stockholders.

The following information is available for the adjusting entries.

Accrued interest on the notes payable at year-end amounted to $3,300 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $2,300 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $3,100.

The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances:

Accounts	Debits	Credits
Cash	$ 49,500
Accounts Receivable	33,700
Land	118,800
Accounts Payable		$ 16,100
Notes Payable (due in 2 years)		38,000
Common Stock		108,000
Retained Earnings		39,900
Totals	$ 202,000	$ 202,000

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

1. January 12	Provide services to customers on account, $70,400.
2. February 25	Provide services to customers for cash, $79,300.
3. March 19	Collect on accounts receivable, $46,500.
4. April 30	Issue shares of common stock in exchange for $38,000 cash.
5. June 16	Purchase supplies on account, $13,700.
6. July 7	Pay on accounts payable, $12,100.
7. September 30	Pay salaries for employee work in the current year, $72,200.
8. November 22	Pay advertising for the current year, $23,300.
9. December 30	Pay $3,700 cash dividends to stockholders.

The following information is available for the adjusting entries.

Accrued interest on the notes payable at year-end amounted to $3,300 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $2,300 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $3,100.

The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances:

Accounts	Debits	Credits
Cash	$ 49,500
Accounts Receivable	33,700
Land	118,800
Accounts Payable		$ 16,100
Notes Payable (due in 2 years)		38,000
Common Stock		108,000
Retained Earnings		39,900
Totals	$ 202,000	$ 202,000

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

1. January 12	Provide services to customers on account, $70,400.
2. February 25	Provide services to customers for cash, $79,300.
3. March 19	Collect on accounts receivable, $46,500.
4. April 30	Issue shares of common stock in exchange for $38,000 cash.
5. June 16	Purchase supplies on account, $13,700.
6. July 7	Pay on accounts payable, $12,100.
7. September 30	Pay salaries for employee work in the current year, $72,200.
8. November 22	Pay advertising for the current year, $23,300.
9. December 30	Pay $3,700 cash dividends to stockholders.

The following information is available for the adjusting entries.

Accrued interest on the notes payable at year-end amounted to $3,300 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $2,300 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $3,100.

Requirements:

1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 9). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.

2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 10-12).

3. Review the adjusted 'Trial Balance' as of December 31, 2024.

4. Prepare an income statement for the period ended December 31, 2024, in the 'Income Statement' tab.

5. Prepare a classified balance sheet as of December 31, 2024 in the 'Balance Sheet' tab.

6. Record the closing entries in the 'General Journal' tab (these are shown as items 13-15).