The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $ 26,000 16,800 14,800 162,000 $ 8,100 7,200 157,000 47,300 $219,600 $219,600 The following is a summary of the transactions for the year 9 Provide storage services for cash, $148, 100, and on account, $59,200. 2. February 12 Collect on accounts receivable, $52,900. 3. April 25 Receive cash in advance from customers, $14,300. 4. May 6 Purchase supplies on account, $12,000. 5. July 15 Pay property taxes, $9,900. 6. September 10 Pay on accounts payable, $12,800. 7. October 31 Pay salaries, $137,600. The following is a summary of the transactions for the year 1. January 9 Provide storage services for cash, $148, 100, and on account, $59,200. 2. February 12 Collect on accounts receivable, $52,900. 3. April 25 Receive cash in advance from customers, $14,300. 4. May 6 Purchase supplies on account, $12,000. 5. July 15 Pay property taxes, $9,900. 6. September 10 Pay on accounts payable, $12,800. 7. October 31 Pay salaries, $137,600. 8. November 20 Issue shares of common stock in exchange for $41,000 cash. 9. December 30 Pay $4,200 cash dividends to stockholders. . Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in account field.) Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the .count field.) Answer is not complete. No General Journal Credit Transaction December 31 Service Revenue Retained Earnings Debit 220,500 220,500 December 31 56.900 X Retained Earnings Salaries Expense Property Tax Expense Supplies Expense OBO 137,600 9.900 December 31 Retained Earings Dividends 4.200 4.200 The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $ 26,000 16,800 14,800 162,000 $ 8,100 7,200 157,000 47,300 $219,600 $219,600 The following is a summary of the transactions for the year 9 Provide storage services for cash, $148, 100, and on account, $59,200. 2. February 12 Collect on accounts receivable, $52,900. 3. April 25 Receive cash in advance from customers, $14,300. 4. May 6 Purchase supplies on account, $12,000. 5. July 15 Pay property taxes, $9,900. 6. September 10 Pay on accounts payable, $12,800. 7. October 31 Pay salaries, $137,600. The following is a summary of the transactions for the year 1. January 9 Provide storage services for cash, $148, 100, and on account, $59,200. 2. February 12 Collect on accounts receivable, $52,900. 3. April 25 Receive cash in advance from customers, $14,300. 4. May 6 Purchase supplies on account, $12,000. 5. July 15 Pay property taxes, $9,900. 6. September 10 Pay on accounts payable, $12,800. 7. October 31 Pay salaries, $137,600. 8. November 20 Issue shares of common stock in exchange for $41,000 cash. 9. December 30 Pay $4,200 cash dividends to stockholders. . Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in account field.) Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the .count field.) Answer is not complete. No General Journal Credit Transaction December 31 Service Revenue Retained Earnings Debit 220,500 220,500 December 31 56.900 X Retained Earnings Salaries Expense Property Tax Expense Supplies Expense OBO 137,600 9.900 December 31 Retained Earings Dividends 4.200 4.200
