Question

Help with Journal Entries please

The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Credits Debits $ 26,609 17,460 16,00 168,000 100 Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,700 7,869 163,009 48.500 $228,00 eBook $ 228,000 The following is a summary of the transactions for the year. References 1. January 19 Provide storage services for cash, $154,100, and on account, 562,200. 2. February 12 Collect on accounts receivable, $53,500. 3. April 25 Receive cash in advance from customers, $14,900. 4. May 6 Purchase Supplies on account. $13,200. 5. July 15 Pay property taxes, $10,5ee. 6. September 10 Pay on accounts payable, $13,400. 7. October 31 Pay salaries, $143,600. 8. November 20 Issue shares of common stock in exchange for $47.000 cash. 9. December 30 Pay $4,800 cash dividends to stockholders. Insurance expired during the year is $9,000. Supplies remaining on hand at the end of the year equal $4,900. Provide services of $13.800 related to cash paid in advance by customers. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet < 0 ..... 0 0 0 ® ® ® 15 ) Record the closing entry for cash dividende

Answer 1

Journal entry

No	Date	General Journal	Debit	Credit
1	Jan 9	Cash	154100
		Account receivable	62200
		Service revenue		216300
2	Feb 12	Cash	53500
		Account receivable		53500
3	Apr 25	Cash	14900
		Unearned service revenue		14900
4	May 6	Supplies	13200
		Account payable		13200
5	July 15	Property taxes	10500
		Cash		10500
6	Sep 10	Account payable	13400
		Cash		13400
7	Oct 31	Salaries expense	143600
		Cash		143600
8	Nov 20	Cash	47000
		Common Stock		47000
9	Dec 30	Cash dividend	4800
		Cash		4800
10	Dec 31	Insurance expense	9000
		Prepaid insurance		9000
11	Dec 31	Supplies expense	8300
		Supplies		8300
12	Dec 31	Unearned service revenue	13800
		Service revenue		13800
13	Dec 31	Service revenue	230100
		Retained earnings		230100
14	Dec 31	Retained earnings	171400
		Salaries expense		143600
		Property taxes expense		10500
		Supplies expense		8300
		Insurance expense		9000
15	Dec 31	Retained earnings	4800
		Cash dividend		4800