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Requlred information TThe following information applies to the questions isspliyed below] On January 1, 2024, Red Flash Photography hyd the foloving balances: Cash, $16,000; Supplies, 58,400; Land, 564,000 ; Deferred Revenue, $5,400; Common 5 eck $54,000; and Retained Earnings, $29,000. During 2024 , the compary had the fellowing tansactions 4, Detober 1 Purchese rental ppeee for gee Jesr, 17,000 , 1. beceloet 16 May divlabnderi 12+406, The following information is available on December 31, 2024: 1. Employees are owed an additional $4,400 in salaries. 2. Three montrs of the rentol spoce have expired. 3. Supplies of $5,400 remain an hand. Alt other supplies have been used. 4. All ef the services associated with the beginning doferred revenue have been performed. Prepare closing entries. (if no entry is required for a particular transactionlevent, select "No Jeurnal Entry Required" in the first ccount field) Journal entry worksheet Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Journal entry worksheet Record the entry to close the dividends account. Note; Enter debits before sred ts

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