Required information Exercise 3-20A Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) (The following information applies to the questions displayed below.) On January 1, 2021, Red Flash Photography had the following balances: Cash $15,000; Supplies, $8,300; Land, $63,000: Deferred Revenue, $5,300; Common Stock $53,000; and Retained Earnings $28,000. During 2021, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $23,000. 2. May 20 Provide services to customers for cash, $38,000, and on account, $33,000. 3. August 31 Pay salaries to employees for work in 2021, $26,000. 4. October 1 Purchase rental space for one year, $15,000. 5. November 17 Purchase supplies on account, $25,000. 6. December 30 Pay dividends, $2,300. The following information is available on December 31, 2021: 1. Employees are owed an additional $4,300 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5,300 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed Exercise 3-20A Part 5 5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Date General Journal Dobit Credit 1 December 31, 202 Interest Revenue 3 2 62,050 December 31, 202 No Journal Entry Required Rent Expense Supplies Expense 90 3,750 28,000 3 December 31, 202 Retained Earings 14,250 14.250