The general ledger of Zips Storage at January 1, 2024, includes the following account balances: Accounts Cash Accounts Receivable Prepaid Insurance Land. Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $26,000 Credits 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: 1. January 9 2. February 12 3. April 25 4. May 6 5. July 15 6. September 10 7. October 31 8. November 20 9. December 30 Provide storage services for cash, $148,100, and on account, $59,200. Collect on accounts receivable, $52,900. Receive cash in advance from customers, $14,300. Purchase supplies on account, $12,000. Pay property taxes, $9,900. Pay on accounts payable, $12,800. Pay salaries, $137,600. Issue shares of common stock in exchange for $41,000 cash. Pay $4,200 cash dividends to stockholders. Insurance expired during the year is $8,400. Supplies remaining on hand at the end of the year equal $4,300. $13,200 related to cash paid in advance by customers. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Journal Ledger Statement Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "N account field.) View transaction list Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Service Revenue Retained Earnings Classentos General Requirement Journal General Ledger Trial Balance Income Statement Balance Sheet Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, will appear for each account, based on your selection.. Post-closing Revenues: Zips Storage Income Statement For the Year Ended December 31, 2024 Total Revenues Expenses: 0 Total Expenses 0 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet The balance sheet is the accounting equation: Assets Liabilities + Equity. Each asset and liability account is reported separate balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Post-closing Assets. Current Assets: Total Current Assets. Long-term Assets: Total Assets $ Zips Storage Balance Sheet December 31, 2024 Liabilities Current Liabilities Total Current Liabilities 0 Stockholders' Equity 0 0 0 0 0 Total Stockholders' Equity 0 Total Liabilities and Stockholders' Equity 0 0 View transaction list Journal entry worksheet