The general ledger of Zips Storage at January 1, 2021, includes the following account balances Accounts Cash Debits: Credits $ 24,600 A/R 15,400 Prepaid Insurance Land 12,000 148,000 A/P $6,700 Deferred Revenue 5,800 Common Stock 143,000 Retained Earnings 44,500 Totals $. 200,000 $. 200,000 The following is a summary of the transactions for the year. 1. January 9 2. February 12 Provide storage services for cash, $134,100 and on account $52,200. Collect on accounts receivable $51,500 3. April 25 Receive cash in advance from customers, $12,900 4. May 6 Purchase supplies on account, $9,200 5. July 15 Pay property taxes, $8,500 Pay on accounts payable, $11,400 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 6. September 10 7. 8. October 31 November 20 9. December 30 Required: 1. Pay salaries, $123,600 Issue shares of common stock in exchange for $27,000 cash Pay $2,800 cash dividends to stockholders Set up the necessary T-accounts and enter the beginning balances from the trial balance. In addition to the accounts shown, the company has accounts for Supplies, Dividends, Service Revenue, Salaries Expense, Property Tax Expense, Supplies Expense, and Insurance Expense. Record each of the summary transactions listed above. Post the transactions to the accounts. Prepare an unadjusted trial balance Record adjusting entries. Insurance expired during the year is $7,000. Supplies remaining on hand at the end of the year equal $2,900. Provide services of $11,800 related to cash paid in advance by customers. Post adjusting entries, Prepare an adjusted trial balance Prepare an income statement for 2021 and a classified balance sheet as of December 31, 2021 Record closing entries Post closing entries Prepare a post-closing trial balance