Question: Required information Skip t o question [ T h e following information applies t o the questions displayed below. ] The general ledger o f

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The general ledger of Zips Storage at January 1,2024, includes the following account balances:
Accounts Debits Credits
Cash $24,600
Accounts Receivable 15,400
Prepaid Insurance 12,000
Land 148,000
Accounts Payable $6,700
Deferred Revenue 5,800
Common Stock 143,000
Retained Earnings 44,500
Totals $200,000 $200,000
The following is a summary of the transactions for the year:
1. January 9 Provide storage services for cash, $134,100, and on account, $52,200.
2. February 12 Collect on accounts receivable, $51,500.
3. April 25 Receive cash in advance from customers, $12,900.
4. May 6 Purchase supplies on account, $9,200.
5. July 15 Pay property taxes, $8,500.
6. September 10 Pay on accounts payable, $11,400.
7. October 31 Pay salaries, $123,600.
8. November 20 Issue shares of common stock in exchange for $27,000 cash.
9. December 30 Pay $2,800 cash dividends to stockholders.
1.3.6. & 10. Post the transactions, adjusting entries and closing entries to the T-accounts. Be sure to include beginning balances.

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