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

Accounts	Debits				Credits
Cash	$	25,100
Accounts Receivable		15,900
Prepaid Insurance		13,000
Land		153,000
Accounts Payable					$	7,200
Deferred Revenue						6,300
Common Stock						148,000
Retained Earnings						45,500
Totals	$	207,000			$	207,000

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

1.		January		9		Provide storage services for cash, $139,100, and on account, $54,700.
2.		February		12		Collect on accounts receivable, $52,000.
3.		April		25		Receive cash in advance from customers, $13,400.
4.		May		6		Purchase supplies on account, $10,200.
5.		July		15		Pay property taxes, $9,000.
6.		September		10		Pay on accounts payable, $11,900.
7.		October		31		Pay salaries, $128,600.
8.		November		20		Issue shares of common stock in exchange for $32,000 cash.
9.		December		30		Pay $3,300 cash dividends to stockholders.

Insurance expired during the year is $7,500. Supplies remaining on hand at the end of the year equal $3,400. Provide services of $12,300 related to cash paid in advance by customers.

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, 2021.

4. Prepare an income statement for the period ended December 31, 2021, in the 'Income Statement' tab.

5. Prepare a classified balance sheet as of December 31, 2021 in the 'Balance Sheet' tab.

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