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Required information Exercise 3-20 (Algo) Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) [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; and Retained Earnings, \$43,000. During 2024, the company had the following transactions: 1. Tebrusry 2. May 20 3. August 31 4. October 1 5. Novesber 17 6. December 30 15 Istase additional shares of common stock, $38,000. provide services to customers for eash, $53,000, and on account, $48,000. pay salaries to enployees for work in 2024,$41,000. purchase rental npace for one year, $30,000. purchase supplies on account, $40,000. pay dividends, $3,800. The following information is avallable on December 31, 2024: 1. Employees are owed an additional $5,800 in salaries. 2. Three months of the rental space have expired. 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. Exercise 3-20 (Algo) Part 3 3. Prepare an adjusted trial balance

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