GL$2-11$ Complete the accounting cycle On January $1,2021,$ the general ledger of Dynamite Fireworks includes the following account balances:

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Accounts Debit$$Credit

Cash$$24,700$Accounts Receivable$6,100$Supplies$4,000$Land$59,000$Accounts Payable$$$$4,100$Common Stock$74,000$Retained Earnings$15,700$Totals$$93,800$$$93,800$

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During January $2021,$ the following transactions occur:

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January$2$Purchase rental space for one year in advance, $$8,700($$$725/$month$).$January$9$Purchase additional supplies on account, $$4,400.$January$13$Provide services to customers on account, $$26,400.$January$17$Receive cash in advance from customers for services to be provided in the future, $$4,600.$January$20$Pay cash for salaries, $$12,400.$January$22$Receive cash on accounts receivable, $$25,000.$January$29$Pay cash on accounts payable, $$4,900.$

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The following information is available on January $31.$

Rent for the month of January has expired.

Supplies remaining at the end of January total $$3,700.$

By the end of January, $$3,875$ of services has been provided to customers who paid in advance on January $17.$

Unpaid salaries at the end of January are $$5,170.$