14 ! It 6 of 7 Requlred Information Exercise 3-21B Complete the accounting cycle (LO3-3, 3-4, 3-5, 3-6) On January 1, Year 1, the general ledger of a company Includes the following account balances: Credit its Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 25,600 7,000 4,900 68,000 eBook eferences $ 5,000 83,000 17,500 $195,500 $195,500 During Year 1, the following transactions occur: January 2 Purchase rental space for one year in advance, $11,400 ($950/month). January 9 Purchase additional supplies on account, $5,300. January 13 Provide services to customers on account, $27, 308. January 17 Receive cash in advance from customers for services to be provided in the future, $5,589. January 20 Pay cash for salaries, $13,30e. January 22 Receive cash on accounts receivable, $25,908. January 29 Pay cash on accounts payable, $5,890. 5 of 7 View transaction list Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Date General Journal Debit Credit January 31