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GL 2-11 (Algo) Complete the accounting cycle (LO2-3, 2-4, 2-5, 2-6, 2-7,2-8) On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances: During January 2024, the following transactions occur: January 2 Purchase rental space for one year in advance, $9,300 ( $775 per month). January 9 Purchase additional supplies on account, $4,600. January 13 Provide services to customers on account, $26,600. January 17 Receive cash in advance from customers for services to be provided in the future, $4,800. January 20 Pay cash for salaries, $12,600. January 22 Receive cash on accounts receivable, $25,200. January 29 Pay cash on accounts payable, $5,100. January 2 Purchase rental space for one year in advance, $9,300 ( $775 per month). January 9 Purchase additional supplies on account, $4,600. January 13 Provide services to customers on account, $26,600. January 17 Receive cash in advance from customers for services to be provided in the future, $4,800. January 20 Pay cash for salaries, $12,600. January 22 Receive cash on accounts receivable, $25,200. January 29 Pay cash on accounts payable, $5,100. The following information is available on January 31. a. Rent for the month of January has expired. b. Supplies remaining at the end of January total $3,900. c. By the end of January, $4,025 of services has been provided to customers who paid in advance on January 17 . d. Unpaid salaries at the end of January are $5,030. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 7 ). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8 to 11 ). 3. Review the adjusted 'Trial Balance' as of January 31, 2024. 4. Prepare an income statement for the period ended January 31,2024, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31, 2024 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 12 and 13). 7. Using the information from the requirements above, complete the 'Analysis' tab. 1 Record the purchase of rental space for one year in advance, $9,300 ( $775/ month). 2 Record the purchase of additional supplies on account, $4,600. 3 Record the providing of services to customers on account, $26,600. 4 Record the receipt of cash in advance from customers for services to be provided in the future, $4,800. 5 Record the payment of cash for salaries, $12,600. 6 Record the receipt of cash on accounts receivable, dos 3nn 7 Record the payment of cash on accounts payable, $5,100. 8 Record the adjusting entry for rent. Record the adjusting entry rent for the month of January has expired. 9 Record the adjusting entry for supplies. Record the adjusting entry supplies remaining at the end of January total $3,900. 10 Record the adjusting entry for services provided to customers who paid in advance. Record the adjusting entry by the end of January, $4,025 of services has been provided to customers who paid in advance on January 17. total \$3,900. 10 Record the adjusting entry for services provided to customers who paid in advance. Record the adjusting entry by the end of January, $4,025 of services has been provided to customers who paid in advance on January 17. 11 Record the adjusting entry for salaries payable. Record the adjusting entry unpaid salaries at the end of January are $5,030. 12 Record the entry to close the revenue accounts. 13 Record the entry to close the expense accounts. Prepare an income statement for the period ended January 31,2024 . Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. repare a classified balance sheet as of January 31,2024 . Choose the appropriate accounts to complete the company's b heet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Using the information from the requirements above, complete the 'Analysis' tab

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