GL$2-11$ Complete the accounting cycle

On January $1,2021,$ the general ledger of Dynamite Fireworks includes the following account balances:

Accounts Debit Credit

Cash $ $24,300$

Accounts Receivable $5,700$

Supplies $3,600$

Land $55,000$

Accounts Payable $ $3,700$

Common Stock $70,000$

Retained Earnings $14,900$

Totals $ $88,600$ $ $88,600$

During January $2021,$ the following transactions occur:

January $2$ Purchase rental space for one year in advance, $$7,500($$$625/$month$).$

January $9$ Purchase additional supplies on account, $$4,000.$

January $13$ Provide services to customers on account, $$26,000.$

January $17$ Receive cash in advance from customers for services to be provided in the future, $$4,200.$

January $20$ Pay cash for salaries, $$12,000.$

January $22$ Receive cash on accounts receivable, $$24,600.$

January $29$ Pay cash on accounts payable, $$4,500.$

The following information is available on January $31.$

Rent for the month of January has expired.

Supplies remaining at the end of January total $$3,300.$

By the end of January, $$3,575$ of services has been provided to customers who paid in advance on January $17.$

Unpaid salaries at the end of January are $$5,450.$