Reference no: EM132492902

On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances:

Accounts   Debit Credit

Cash$25,000

Accounts Receivable 6,400

Supplies 4,300

Land 62,000

Accounts Payable $4,400

Common Stock 77,000

Retained Earnings 16,300

Totals$97,700 $97,700

During January 2021, the following transactions occur:

1. January 2 Purchase rental space for one year in advance, $9,600 ($800/month).
2. January 9 Purchase additional supplies on account, $4,700.
3. January 13 Provide services to customers on account, $26,700.
4. January 17 Receive cash in advance from customers for services to be provided in the future, $4,900.
5. January 20 Pay cash for salaries, $12,700.
6. January 22 Receive cash on accounts receivable, $25,300.
7. January 29 Pay cash on accounts payable, $5,200.

The following information is available on January 31.

1. Rent for the month of January has expired.
2. Supplies remaining at the end of January total $4,000.
3. By the end of January, $4,100 of services has been provided to customers who paid in advance on January 17.
4. Unpaid salaries at the end of January are $4,960.

Question 1: Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.