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5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Require account field.) Journal entry worksheet Record the entry to close the revenue accounts. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Prepare a statement of stockholders' equity. 5. Prepare closing entries, (If no entry is required for a particular transaction/event, select "No Journal Entry Require account field.) Journal entry worksheet Record the entry to close the dividends account. Note: Enter debits before credits. 5. Prepare closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Requi ccount field.) Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Required information [The following information applies to the questions displayed below.] On January 1, 2024, Red Flash Photography had the following balances: Cash, \$30,000; Supplies, \$9,800; Land, $78,000; Deferred Revenue, \$6,800; Common Stock \$68,000, ond Rotained Earnings, \$43,000. During 2024, the company had the following transactions: 1. February is jesse sdistional shares of eomen stoek, $18,060. 4. Oeteber 1 Furehase restal space for one year, 130,006 . \$. Novesber if Furchase supplies on account, $40,000. 6. Decemper 30 fay dividends, $3,980. The following information is awailable on December 31, 2024: 1. Employees are owed an additional $5,800 in salaries. 2. Three months of the rental spoce have explred. 3. Supplies of $6,800 remain on hand. All other supplies have been used. 4. All of the services associated with the beginning deferred revenue have been performed

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