The general ledger of Zips Storage at January 1, 2021, includes the following account balances:

Accounts	Debits				Credits
Cash	$	26,600
Accounts Receivable		17,400
Prepaid Insurance		16,000
Land		168,000
Accounts Payable					$	8,700
Deferred Revenue						7,800
Common Stock						163,000
Retained Earnings						48,500
Totals	$	228,000			$	228,000

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

1.		January		9		Provide storage services for cash, $154,100, and on account, $62,200.
2.		February		12		Collect on accounts receivable, $53,500.
3.		April		25		Receive cash in advance from customers, $14,900.
4.		May		6		Purchase supplies on account, $13,200.
5.		July		15		Pay property taxes, $10,500.
6.		September		10		Pay on accounts payable, $13,400.
7.		October		31		Pay salaries, $143,600.
8.		November		20		Issue shares of common stock in exchange for $47,000 cash.
9.		December		30		Pay $4,800 cash dividends to stockholders.

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