Required information Problem 3-9 A Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7) The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Accounts Debits Credits Cash $ 25, 100 Accounts Receivable 15,900 Prepaid Insurance 13,000 Land 153,000 Accounts Payable $ 7,200 Deferred Revenue 6,300 Common Stock 148,000 Retained Earnings 45,500 Totals $207,000 $207,000 The following is a summary of the transactions for the year. 1. January 9 Provide storage services for cash, $139, 100, and on account, $54,700. A 2. February 12 Collect on accounts receivable, $52,000. 3. April 25 Receive cash in advance from customers, $13,400. 4. May 6 Purchase supplies on account, $10,200. 5. July 15 Pay property taxes, $9,000. 6. September 10 Pay on accounts payable, $11, 900. 7. October 31 Pay salaries, $128,600. 8. November 20 Issue shares of common stock in exchange for $32,000 cash. 9. December 30 Pay $3,300 cash dividends to stockholders. Journal entry worksheet 3 Record the closing entry for revenue. Note: Enter debits before credits. General Journal Debit Credit Transaction December 31 Record entry Clear entry View general journal Journal entry worksheet