Problem 3-9B (Algo) Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7)

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The general ledger of Jackrabbit Rentals at January 1, 2024, includes the following account balances:

AccountsDebitsCreditsCash$44,500Accounts Receivable28,700Land113,800Accounts Payable$15,600Notes Payable (due in 2 years)33,000Common Stock103,000Retained Earnings35,400Totals$187,000$187,000

The following is a summary of the transactions for the year:

1. January 12Provide services to customers on account, $65,400.2. February 25Provide services to customers for cash, $76,800.3. March 19Collect on accounts receivable, $46,000.4. April 30Issue shares of common stock in exchange for $33,000 cash.5. June 16Purchase supplies on account, $12,700.6. July 7Pay on accounts payable, $11,600.7. September 30Pay salaries for employee work in the current year, $67,200.8. November 22Pay advertising for the current year, $22,800.9. December 30Pay $3,200 cash dividends to stockholders.

The following information is available for the adjusting entries.

Accrued interest on the notes payable at year-end amounted to $2,800 and will be paid January 1, 2025. Accrued salaries at year-end amounted to $1,800 and will be paid on January 5, 2025. Supplies remaining on hand at the end of the year equal $2,600.

Problem 3-9B (Algo) Part 9

9. Record closing entries

unsure of how to do this. please walk me through the steps