Journal entry worksheet Record the closing entry for revenue. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal Check my The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals Debits $ 25,600 16,400 14,000 158,000 $ 7,700 6,800 153,000 46,500 $214,000 $214,000 The following is a summary of the transactions for the year. 1. January 9 Provide storage services for cash, $144, 100, and on account, $57,200. 2. February 12 Collect on accounts receivable, $52,500. 3. April 25 Receive cash in advance from customers, $13,900. 4. May 6 Purchase supplies on account, $11,200. 5. July 15 Pay property taxes, $9,500. 6. September 18 Pay on accounts payable, $12,400. 7. October 31 Pay salaries, $133,600. 8. November 20 Issue shares of common stock in exchange for $37,000 cash. 9. December 30 Pay $3,800 cash dividends to stockholders. Insurance expired during the year is $8,000. Supplies remaining on hand at the end of the year equal $3,900. Provide services of $12,800 related to cash paid in advance by customers