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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; \$upplies, \$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. rebruary is Issue additional shares of comenon stock, 538,000 . 2. May 20 provide services to esstoners for eash, $53,000, and on accoune, $40,000. 3. August 31 Pay salaries to enployees for work in 2024,541,000. 4. October 1 Durchase rental space for one year, $30,000. 5. Noventer 17 purchase supplies on acoount, $40,000. 6. December 30 pay dividends, $3,000. The following information is avallable on December 31,2024 : 1. Employees are owed an additional $5,800 in salarles. 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
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